GQG Partners LLC

FT. LAUDERDALE, FL · CIK 1697233 · 13F filing filed 2026-08-12

SEC-registered investment adviser since 2016 · limited liability company

Assets managed$163.9bn
Staff227 · 22 in investment roles
Main clients (by assets)Mutual funds and ETFs 53%, Private funds 30%, State and local governments 6%
Private funds6 (2 hedge) · $14.5bn gross assets
Main officeFort Lauderdale, FL
Form ADV · 2026-03-30SEC adviser record

Legal entityGQG PARTNERS LLC (US)

$53.8bn reported value -14.8% vs Q1 2026

102positions

53.1%in top 10

29 new 28 added 40 reduced 8 sold out vs Q1 2026

Also in the report of:

Russell Investments Group, Ltd. – $507.2m of shares are in both reports

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	PHILIP MORRIS INTL INC COM PM	PM	45,436,985	$8.2bn15.29%	15.29%	Reduced -4.7m	-4,668,915 -9.3%
2	CHUBB LIMITED COM CB	CB	12,473,178	$4.3bn7.91%	7.91%	Added +54.4k	+54,382 0.4%
3	PETROLEO BRASILEIRO SA PETRO SPONSORED ADR PBR	PBR	193,198,230	$3.1bn5.81%	5.81%	Added +19.8m	+19,758,125 11.4%
4	ENBRIDGE INC COM ENB	ENB	49,084,876	$2.7bn4.95%	4.95%	Reduced -27.3m	-27,341,904 -35.8%
5	EXXON MOBIL CORP COM XOM	XOM	16,877,523	$2.3bn4.29%	4.29%	Added +10.2m	+10,214,420 153.3%
6	ALTRIA GROUP INC COM MO	MO	25,111,622	$1.8bn3.36%	3.36%	Added +1.3m	+1,274,783 5.3%
7	THE CIGNA GROUP COM CI	CI	5,908,707	$1.6bn3.03%	3.03%	Reduced -93.7k	-93,741 -1.6%
8	PROGRESSIVE CORP COM PGR	PGR	7,043,101	$1.5bn2.86%	2.86%	Reduced -2.1m	-2,095,839 -22.9%
9	VERIZON COMMUNICATIONS INC COM VZ	VZ	35,877,241	$1.5bn2.83%	2.83%	Reduced -9.8m	-9,837,354 -21.5%
10	BRITISH AMERN TOB PLC SPONSORED ADR BTI	BTI	24,566,708	$1.5bn2.82%	2.82%	Reduced -3.1m	-3,116,626 -11.3%
11	COCA COLA CO COM KO	KO	18,389,277	$1.5bn2.78%	2.78%	Reduced -2.7m	-2,729,890 -12.9%
12	AMERICAN ELEC PWR CO INC COM AEP	AEP	10,263,074	$1.4bn2.61%	2.61%	Reduced -4.8m	-4,762,810 -31.7%
13	ALLSTATE CORP COM ALL	ALL	5,235,375	$1.2bn2.32%	2.32%	Reduced -526.2k	-526,228 -9.1%
14	AT&T INC COM T	T	59,099,713	$1.2bn2.28%	2.28%	Reduced -22.3m	-22,253,371 -27.4%
15	AMERICAN WTR WKS CO INC NEW COM AWK	AWK	8,903,133	$1.2bn2.18%	2.18%	Added +2.5m	+2,472,077 38.4%
16	TC ENERGY CORP COM TRP	TRP	16,736,302	$1.1bn2.06%	2.06%	Reduced -210.3k	-210,268 -1.2%
17	EXELON CORP COM EXC	EXC	19,796,580	$922.9m1.72%	1.72%	Reduced -2.5m	-2,481,621 -11.1%
18	ICICI BANK LIMITED ADR IBN	IBN	30,898,356	$897.0m1.67%	1.67%	Reduced -46.5m	-46,468,196 -60.1%
19	XCEL ENERGY INC COM XEL	XEL	11,104,441	$891.7m1.66%	1.66%	Reduced -88.7k	-88,721 -0.8%
20	DUKE ENERGY CORP NEW COM NEW DUK	DUK	6,503,039	$823.2m1.53%	1.53%	Reduced -1.3m	-1,299,424 -16.6%
21	CVS HEALTH CORP COM CVS	CVS	7,955,411	$823.0m1.53%	1.53%	Added +7.9m	+7,923,888 25136.8%
22	TRAVELERS COMPANIES INC COM TRV	TRV	2,390,090	$789.0m1.47%	1.47%	New
23	CHEVRON CORP NEW COM CVX	CVX	4,321,814	$716.4m1.33%	1.33%	Reduced -5.9m	-5,944,373 -57.9%
24	NEXTERA ENERGY INC COM NEE	NEE	7,420,437	$651.3m1.21%	1.21%	Reduced -1.8m	-1,838,290 -19.9%
25	ATLASSIAN CORPORATION CL A TEAM	TEAM	7,658,413	$595.7m1.11%	1.11%	New
26	NVIDIA CORPORATION COM NVDA	NVDA	2,949,752	$590.2m1.10%	1.10%	Added +2.9m	+2,946,768 98752.3%
27	AMBEV SA SPONSORED ADR ABEV	ABEV	185,072,397	$581.1m1.08%	1.08%	Reduced -2.0m	-1,965,141 -1.1%
28	BP PLC SPONSORED ADR BP	BP	14,138,369	$522.4m0.97%	0.97%	Added +8.7m	+8,675,831 158.8%
29	UNILEVER PLC SPON ADR NEW UL	UL	8,673,777	$521.5m0.97%	0.97%	Reduced -727.5k	-727,509 -7.7%
30	HERSHEY CO COM HSY	HSY	2,766,786	$485.4m0.90%	0.90%	New
31	ABBVIE INC COM ABBV	ABBV	1,921,614	$483.6m0.90%	0.90%	New
32	DELL TECHNOLOGIES INC CL C DELL	DELL	1,110,030	$478.9m0.89%	0.89%	New
33	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	866,910	$414.0m0.77%	0.77%	Added +690.1k	+690,093 390.3%
34	CENOVUS ENERGY INC COM CVE	CVE	16,592,495	$411.6m0.77%	0.77%	Reduced -10.2m	-10,181,968 -38.0%
35	DEVON ENERGY CORP NEW COM DVN	DVN	9,742,444	$402.6m0.75%	0.75%	Reduced -6.4m	-6,427,901 -39.8%
36	ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB	ITUB	48,136,668	$393.3m0.73%	0.73%	Reduced -33.5m	-33,509,552 -41.0%
37	APPLE INC COM AAPL	AAPL	1,286,388	$372.2m0.69%	0.69%	New
38	CMS ENERGY CORP COM CMS	CMS	4,750,161	$363.4m0.68%	0.68%	Added +337.6k	+337,588 7.7%
39	NOVARTIS AG SPONSORED ADR NVS	NVS	2,151,131	$337.1m0.63%	0.63%	Reduced -296.1k	-296,141 -12.1%
40	META PLATFORMS INC CL A META	META	591,397	$333.1m0.62%	0.62%	New
41	MICROSOFT CORP COM MSFT	MSFT	848,548	$316.5m0.59%	0.59%	New
42	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	780,428	$310.4m0.58%	0.58%	New
43	INFOSYS LTD SPONSORED ADR INFY	INFY	26,999,640	$283.2m0.53%	0.53%	New
44	CINCINNATI FINL CORP COM CINF	CINF	1,170,338	$216.7m0.40%	0.40%	Reduced -348.0k	-347,980 -22.9%
45	EMBRAER S.A. SPONSORED ADS EMBJ	EMBJ	3,188,244	$203.4m0.38%	0.38%	Reduced -2.9m	-2,885,610 -47.5%
46	ATMOS ENERGY CORP COM ATO	ATO	1,175,136	$202.4m0.38%	0.38%	Added +287.9k	+287,932 32.5%
47	STATE STR CORP COM STT	STT	1,106,046	$187.6m0.35%	0.35%	New
48	RENAISSANCERE HLDGS LTD COM RNR	RNR	584,871	$185.4m0.34%	0.34%	Added +82.5k	+82,525 16.4%
49	BANK AMERICA CORP COM BAC	BAC	3,166,564	$180.4m0.34%	0.34%	New
50	CENTERPOINT ENERGY INC COM CNP	CNP	4,009,382	$176.6m0.33%	0.33%	Reduced -732.2k	-732,198 -15.4%
51	ARCH CAP GROUP LTD ORD ACGL	ACGL	1,717,256	$166.7m0.31%	0.31%	Added +71.2k	+71,230 4.3%
52	MCDONALDS CORP COM MCD	MCD	601,383	$162.6m0.30%	0.30%	New
53	NETEASE INC SPONSORED ADS NTES	NTES	1,226,473	$157.2m0.29%	0.29%	New
54	BROADCOM INC COM AVGO	AVGO	372,865	$140.8m0.26%	0.26%	New
55	AMAZON COM INC COM AMZN	AMZN	573,974	$136.8m0.25%	0.25%	Added +572.5k	+572,540 39926.1%
56	SUNCOR ENERGY INC NEW COM SU	SU	2,293,204	$123.3m0.23%	0.23%	Reduced -14.9m	-14,925,615 -86.7%
57	DIAMONDBACK ENERGY INC COM FANG	FANG	587,036	$103.2m0.19%	0.19%	New
58	ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR BUD	BUD	918,338	$75.7m0.14%	0.14%	Added +911.5k	+911,546 13420.9%
59	OLD REP INTL CORP COM ORI	ORI	1,760,732	$72.0m0.13%	0.13%	Reduced -1.8m	-1,771,471 -50.1%
60	JD.COM INC SPON ADS CL A JD	JD	2,304,023	$58.7m0.11%	0.11%	New
61	PEPSICO INC COM PEP	PEP	218,202	$29.5m0.05%	0.05%	Reduced -843.1k	-843,108 -79.4%
62	CREDICORP LTD COM BAP	BAP	72,991	$28.4m0.05%	0.05%	Unchanged
63	ENI S P A SPONSORED ADR E	E	590,882	$27.7m0.05%	0.05%	Added +290.1k	+290,139 96.5%
64	ALPHABET INC CAP STK CL C GOOG	GOOG	63,882	$22.6m0.04%	0.04%	Added +63.2k	+63,176 8948.4%
65	TOTALENERGIES SE ACT TTE	TTE	263,895	$20.5m0.04%	0.04%	Added +21.1k	+21,086 8.7%
66	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	14,777	$11.0m0.02%	0.02%	Added +5.4k	+5,392 57.5%
67	CANADIAN NAT RES LTD COM CNQ	CNQ	274,860	$10.9m0.02%	0.02%	Reduced -17.3m	-17,280,611 -98.4%
68	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	30,749	$8.6m0.02%	0.02%	New
69	ASTRAZENECA PLC ORD AZN	AZN	45,569	$8.5m0.02%	0.02%	Added +45	+45 0.1%
70	NATIONAL GRID PLC SPONSORED ADR NE NGG	NGG	101,755	$8.4m0.02%	0.02%	Added +95.8k	+95,841 1620.6%
71	BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR BBVA	BBVA	330,608	$8.3m0.02%	0.02%	New
72	SAP SE SPON ADR SAP	SAP	45,468	$7.0m0.01%	0.01%	New
73	VALERO ENERGY CORP COM VLO	VLO	26,587	$6.9m0.01%	0.01%	Reduced -7.3k	-7,325 -21.6%
74	MERCK & CO INC COM MRK	MRK	53,092	$6.8m0.01%	0.01%	Added +76	+76 0.1%
75	JOHNSON & JOHNSON COM JNJ	JNJ	25,158	$6.4m0.01%	0.01%	Reduced -7.3m	-7,292,131 -99.7%
76	BRISTOL-MYERS SQUIBB CO COM BMY	BMY	96,264	$5.5m0.01%	0.01%	Added +49.9k	+49,903 107.6%
77	AMERICAN INTL GROUP INC COM NEW AIG	AIG	73,409	$5.5m0.01%	0.01%	Reduced -10.5m	-10,514,028 -99.3%
78	PPL CORP COM PPL	PPL	146,588	$5.3m0.01%	0.01%	Reduced -199.4k	-199,377 -57.6%
79	SOUTHERN CO COM SO	SO	53,777	$5.1m0.01%	0.01%	Added +75	+75 0.1%
80	SPDR GOLD TR GOLD SHS GLD	GLD	13,626	$5.0m0.01%	0.01%	Added +10.9k	+10,863 393.2%
81	FACTSET RESH SYS INC COM FDS	FDS	21,296	$4.9m0.01%	0.01%	New
82	PROCTER AND GAMBLE CO COM PG	PG	29,177	$4.3m0.01%	0.01%	Reduced -67.3k	-67,315 -69.8%
83	SANOFI SPONSORED ADR SNY	SNY	97,640	$4.2m0.01%	0.01%	Reduced -67.1k	-67,065 -40.7%
84	HSBC HLDGS PLC SPON ADR NEW HSBC	HSBC	37,717	$3.6m0.01%	0.01%	New
85	BANCO SANTANDER S.A. ADR SAN	SAN	259,273	$3.6m0.01%	0.01%	New
86	OMNICOM GROUP INC COM OMC	OMC	45,743	$3.3m0.01%	0.01%	New
87	PFIZER INC COM PFE	PFE	131,567	$3.2m0.01%	0.01%	Added +35.1k	+35,075 36.4%
88	ISHARES TR MSCI ACWI ETF ACWI	ACWI	13,470	$2.1m0.00%	0.00%	Reduced -12.9k	-12,872 -48.9%
89	LLOYDS BANKING GROUP PLC SPONSORED ADR LYG	LYG	341,126	$2.0m0.00%	0.00%	New
90	KROGER CO COM KR	KR	34,235	$1.9m0.00%	0.00%	Reduced -12.7m	-12,702,807 -99.7%
91	WORKDAY INC CL A WDAY	WDAY	15,242	$1.9m0.00%	0.00%	New
92	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	540	$1.1m0.00%	0.00%	New
93	ISHARES TR RUS 1000 ETF IWB	IWB	2,481	$1.0m0.00%	0.00%	Added +1.4k	+1,371 123.5%
94	APPLOVIN CORP COM CL A APP	APP	1,852	$954.1k0.00%	0.00%	Reduced -15	-15 -0.8%
95	ROYAL BK CDA COM RY	RY	3,059	$633.1k0.00%	0.00%	Unchanged
96	WALMART INC COM WMT	WMT	5,394	$610.9k0.00%	0.00%	Unchanged
97	SHELL PLC SPON ADS SHEL	SHEL	6,001	$465.3k0.00%	0.00%	Unchanged
98	CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR AXIAY	AXIAY	30,403	$321.1k0.00%	0.00%	Added +2.4k	+2,417 8.6%
99	GOLDMAN SACHS GROUP INC COM GS	GS	298	$301.2k0.00%	0.00%	Unchanged
100	AUTODESK INC COM ADSK	ADSK	1,180	$229.5k0.00%	0.00%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
OCCIDENTAL PETE CORP OXY	OXY	18,311,639	$1.2bn18.3m shares
BERKSHIRE HATHAWAY INC DEL BRK.B	BRK.B	1,896,646	$908.9m1.9m shares
HDFC BANK LTD HDB	HDB	34,095,946	$848.3m34.1m shares
CME GROUP INC CME	CME	2,625,795	$775.5m2.6m shares
FRANCO NEV CORP FNV	FNV	1,166,853	$288.0m1.2m shares
VALE S A VALE	VALE	16,574,442	$263.7m16.6m shares
GRUPO AEROPORTUARIO DEL SURE ASR	ASR	366,108	$123.1m366.1k shares
VANGUARD INDEX FDS VV	VV	846	$253.0k846 shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
PETROLEO BRASILEIRO SA PETRO PBR · 13G · filed 2026-05-22	PBR	5.0%	+1.2 pts	13G	2026-05-22