GQG Partners LLC

FT. LAUDERDALE, FL · CIK 1697233 · 13F filing filed 2023-08-11

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)

$43.5bn reported value +13.8% vs Q1 2023

68positions

59.1%in top 10

8 new 19 added 34 reduced 16 sold out vs Q1 2023

Holdings, Q2 2023

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	NVIDIA CORPORATION COM NVDA	NVDA	13,938,332	$5.9bn13.56%	13.56%	Added +5.7m	+5,691,021 69.0%
2	PETROLEO BRASILEIRO SA PETRO SPONSORED ADR PBR	PBR	211,009,493	$2.9bn6.71%	6.71%	Reduced -341.6k	-341,621 -0.2%
3	ALPHABET INC CAP STK CL C GOOG	GOOG	23,513,300	$2.8bn6.54%	6.54%	Added +2.6m	+2,647,687 12.7%
4	META PLATFORMS INC CL A META	META	8,407,267	$2.4bn5.55%	5.55%	Added +4.5m	+4,487,229 114.5%
5	UNITEDHEALTH GROUP INC COM UNH	UNH	4,889,948	$2.4bn5.41%	5.41%	Added +46.0k	+45,986 0.9%
6	MICROSOFT CORP COM MSFT	MSFT	6,449,821	$2.2bn5.05%	5.05%	Added +2.1m	+2,133,175 49.4%
7	AMAZON COM INC COM AMZN	AMZN	15,476,122	$2.0bn4.64%	4.64%	New
8	APPLE INC COM AAPL	AAPL	9,791,591	$1.9bn4.37%	4.37%	Added +1.7m	+1,739,584 21.6%
9	SCHLUMBERGER LTD COM STK SLB	SLB	33,593,558	$1.7bn3.80%	3.80%	Added +5.3m	+5,276,038 18.6%
10	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		21,198,498	$1.5bn3.49%	3.49%	Reduced -346.9k	-346,889 -1.6%
11	LAM RESEARCH CORP COM COM		2,351,347	$1.5bn3.48%	3.48%	Added +628.5k	+628,472 36.5%
12	ICICI BANK LIMITED ADR IBN	IBN	63,992,073	$1.5bn3.40%	3.40%	Reduced -683.6k	-683,642 -1.1%
13	ELI LILLY & CO COM LLY	LLY	3,149,206	$1.5bn3.40%	3.40%	Added +172.4k	+172,407 5.8%
14	HUMANA INC COM HUM	HUM	2,964,581	$1.3bn3.05%	3.05%	Added +721.5k	+721,539 32.2%
15	VISA INC COM CL A V	V	5,523,032	$1.3bn3.02%	3.02%	Added +274.5k	+274,472 5.2%
16	EXXON MOBIL CORP COM XOM	XOM	10,590,238	$1.1bn2.61%	2.61%	Reduced -9.0m	-8,999,672 -45.9%
17	BROADCOM INC COM AVGO	AVGO	1,101,786	$955.7m2.20%	2.20%	Added +995.6k	+995,575 937.4%
18	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	9,048,637	$913.2m2.10%	2.10%	Reduced -148.4k	-148,366 -1.6%
19	SERVICENOW INC COM NOW	NOW	1,529,364	$859.5m1.98%	1.98%	Reduced -6.8k	-6,758 -0.4%
20	MASTERCARD INCORPORATED CL A MA	MA	1,991,605	$783.3m1.80%	1.80%	Added +1.9m	+1,896,229 1988.2%
21	AON PLC SHS CL A AON	AON	2,234,551	$771.4m1.77%	1.77%	Reduced -2.8k	-2,802 -0.1%
22	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	1,035,227	$750.3m1.73%	1.73%	Added +405.6k	+405,645 64.4%
23	ADVANCED MICRO DEVICES INC COM AMD	AMD	6,136,082	$699.0m1.61%	1.61%	Reduced -264.2k	-264,227 -4.1%
24	ALPHABET INC CAP STK CL A GOOGL	GOOGL	3,811,441	$456.2m1.05%	1.05%	New
25	HDFC BANK LTD SPONSORED ADS HDB	HDB	6,153,190	$428.9m0.99%	0.99%	Reduced -14.6m	-14,605,574 -70.4%
26	PHILIP MORRIS INTL INC COM PM	PM	4,174,916	$407.6m0.94%	0.94%	Reduced -17.4m	-17,393,818 -80.6%
27	APPLOVIN CORP COM CL A APP	APP	15,078,778	$388.0m0.89%	0.89%	New
28	WORKDAY INC CL A WDAY	WDAY	1,614,010	$364.6m0.84%	0.84%	Added +109.4k	+109,375 7.3%
29	PROGRESSIVE CORP COM PGR	PGR	2,150,069	$284.6m0.65%	0.65%	Added +1.1m	+1,135,039 111.8%
30	SNOWFLAKE INC CL A SNOW	SNOW	1,447,664	$254.8m0.59%	0.59%	Reduced -570.8k	-570,789 -28.3%
31	ENBRIDGE INC COM ENB	ENB	6,379,065	$237.4m0.55%	0.55%	Reduced -47.7m	-47,716,632 -88.2%
32	FORTIS INC COM FTS	FTS	4,794,494	$206.9m0.48%	0.48%	Reduced -8.5m	-8,451,104 -63.8%
33	HERSHEY CO COM HSY	HSY	659,650	$164.7m0.38%	0.38%	Reduced -842.7k	-842,698 -56.1%
34	ELEVANCE HEALTH INC COM ELV	ELV	331,039	$147.1m0.34%	0.34%	Reduced -1.3m	-1,286,544 -79.5%
35	ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB	ITUB	14,896,315	$87.9m0.20%	0.20%	Reduced -1.2m	-1,208,760 -7.5%
36	SYNOPSYS INC COM SNPS	SNPS	139,564	$60.8m0.14%	0.14%	New
37	DR REDDYS LABS LTD ADR RDY	RDY	722,448	$45.6m0.10%	0.10%	Added +167.1k	+167,125 30.1%
38	VALE S A SPONSORED ADS VALE	VALE	2,649,314	$35.6m0.08%	0.08%	Reduced -19.7m	-19,655,474 -88.1%
39	NOVO-NORDISK A S ADR NVO	NVO	194,545	$31.5m0.07%	0.07%	Reduced -29.6k	-29,616 -13.2%
40	TRANSOCEAN LTD REGISTERED SHS RIG	RIG	4,043,541	$28.3m0.07%	0.07%	Reduced -1.1m	-1,060,631 -20.8%
41	ONEOK INC NEW COM OKE	OKE	421,609	$26.0m0.06%	0.06%	Reduced -90.0k	-90,018 -17.6%
42	EXELON CORP COM EXC	EXC	488,971	$19.9m0.05%	0.05%	Reduced -16.6m	-16,593,357 -97.1%
43	ORACLE CORP COM ORCL	ORCL	137,242	$16.3m0.04%	0.04%	Added +51.4k	+51,429 59.9%
44	COCA COLA CO COM KO	KO	195,023	$11.7m0.03%	0.03%	Reduced -215.6k	-215,644 -52.5%
45	ARCH CAP GROUP LTD ORD ACGL	ACGL	135,717	$10.2m0.02%	0.02%	New
46	UNITED PARCEL SERVICE INC CL B UPS	UPS	38,761	$6.9m0.02%	0.02%	Reduced -172	-172 -0.4%
47	GLOBANT S A COM GLOB	GLOB	38,128	$6.9m0.02%	0.02%	Unchanged
48	CMS ENERGY CORP COM CMS	CMS	102,093	$6.0m0.01%	0.01%	Reduced -24.5k	-24,532 -19.4%
49	TOTALENERGIES SE SPONSORED ADS SPONSORED ADS		101,499	$5.9m0.01%	0.01%	Reduced -2.9m	-2,936,710 -96.7%
50	CHEVRON CORP NEW COM CVX	CVX	35,275	$5.6m0.01%	0.01%	Unchanged
51	WALMART INC COM WMT	WMT	33,254	$5.2m0.01%	0.01%	Unchanged
52	BRITISH AMERN TOB PLC SPONSORED ADR BTI	BTI	149,507	$5.0m0.01%	0.01%	Reduced -25.0m	-24,972,213 -99.4%
53	CITIGROUP INC COM NEW C	C	100,809	$4.6m0.01%	0.01%	New
54	MERCK & CO INC COM MRK	MRK	37,580	$4.3m0.01%	0.01%	Unchanged
55	AMERICAN ELEC PWR CO INC COM AEP	AEP	50,690	$4.3m0.01%	0.01%	Reduced -22.1k	-22,116 -30.4%
56	RIO TINTO PLC SPONSORED ADR RIO	RIO	63,707	$4.1m0.01%	0.01%	Reduced -18.7k	-18,731 -22.7%
57	GENERAL MLS INC COM GIS	GIS	46,283	$3.5m0.01%	0.01%	Reduced -2.6k	-2,648 -5.4%
58	JPMORGAN CHASE & CO COM JPM	JPM	24,140	$3.5m0.01%	0.01%	New
59	MORGAN STANLEY COM NEW MS	MS	38,519	$3.3m0.01%	0.01%	New
60	ARCH RESOURCES INC CL A CL A		28,269	$3.2m0.01%	0.01%	Reduced -90.9k	-90,905 -76.3%
61	FIRSTENERGY CORP COM FE	FE	79,097	$3.1m0.01%	0.01%	Unchanged
62	ENI S P A SPONSORED ADR E	E	88,444	$2.5m0.01%	0.01%	Reduced -7.0k	-7,043 -7.4%
63	ATMOS ENERGY CORP COM ATO	ATO	21,265	$2.5m0.01%	0.01%	Reduced -309.3k	-309,324 -93.6%
64	AMERICA MOVIL SAB DE CV SPON ADS RP CL B AMX	AMX	88,768	$1.9m0.00%	0.00%	Reduced -40.4k	-40,446 -31.3%
65	NEWMONT CORP COM NEM	NEM	42,084	$1.8m0.00%	0.00%	Added +6.8k	+6,783 19.2%
66	LOCKHEED MARTIN CORP COM LMT	LMT	3,446	$1.6m0.00%	0.00%	Reduced -20.6k	-20,578 -85.7%
67	HALEON PLC SPON ADS HLN	HLN	27,732	$232.4k0.00%	0.00%	Unchanged
68	SHELL PLC SPON ADS SHEL	SHEL	3,735	$225.5k0.00%	0.00%	Unchanged

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
ADOBE INC ADBE	ADBE	1,445,626	$557.1m1.4m shares
MICRON TECHNOLOGY INC MU	MU	4,292,907	$259.0m4.3m shares
ARCELORMITTAL SA LUXEMBOURG MT	MT	4,727,956	$142.4m4.7m shares
STRYKER CORPORATION SYK	SYK	466,915	$133.3m466.9k shares
HUNTINGTON INGALLS INDS INC HII	HII	469,056	$97.1m469.1k shares
INFOSYS LTD INFY	INFY	1,798,234	$31.4m1.8m shares
OCCIDENTAL PETE CORP OXY	OXY	499,028	$31.2m499.0k shares
ABBVIE INC ABBV	ABBV	46,487	$7.4m46.5k shares
ALTRIA GROUP INC MO	MO	95,906	$4.3m95.9k shares
FREEPORT-MCMORAN INC FCX	FCX	88,070	$3.6m88.1k shares
APOLLO GLOBAL MGMT INC APO	APO	55,228	$3.5m55.2k shares
BRISTOL-MYERS SQUIBB CO BMY	BMY	42,232	$2.9m42.2k shares
THE CIGNA GROUP CI	CI	8,965	$2.3m9.0k shares
CME GROUP INC CME	CME	11,362	$2.2m11.4k shares
VALERO ENERGY CORP VLO	VLO	10,452	$1.5m10.5k shares
BERKSHIRE HATHAWAY INC DEL BRK.B	BRK.B	2,618	$808.4k2.6k 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