GQG Partners LLC

FT. LAUDERDALE, FL · CIK 1697233 · 13F filing filed 2024-08-12

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)

$66.0bn reported value +6.1% vs Q1 2024

79positions

59.5%in top 10

27 new 35 added 16 reduced 34 sold out vs Q1 2024

Holdings, Q2 2024

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	75,658,084	$9.3bn14.17%	14.17%	Reduced -58.0m	-57,964,776 -43.4%
2	META PLATFORMS INC CL A META	META	10,760,333	$5.4bn8.23%	8.23%	Reduced -737.0k	-737,002 -6.4%
3	BROADCOM INC COM AVGO	AVGO	3,234,980	$5.2bn7.87%	7.87%	Added +242.1k	+242,147 8.1%
4	PHILIP MORRIS INTL INC COM PM	PM	36,246,491	$3.7bn5.57%	5.57%	Added +30.3m	+30,288,100 508.3%
5	ELI LILLY & CO COM LLY	LLY	4,007,699	$3.6bn5.50%	5.50%	Added +158.8k	+158,813 4.1%
6	PETROLEO BRASILEIRO SA PETRO SPONSORED ADR PBR	PBR	212,118,980	$3.1bn4.66%	4.66%	Added +16.4m	+16,389,105 8.4%
7	MICROSOFT CORP COM MSFT	MSFT	5,655,401	$2.5bn3.83%	3.83%	Reduced -1.5m	-1,516,602 -21.1%
8	APPLE INC COM AAPL	AAPL	11,257,183	$2.4bn3.59%	3.59%	New
9	AMAZON COM INC COM AMZN	AMZN	11,513,690	$2.2bn3.37%	3.37%	Reduced -2.2m	-2,248,856 -16.3%
10	ENBRIDGE INC COM ENB	ENB	50,897,110	$1.8bn2.74%	2.74%	New
11	ALPHABET INC CAP STK CL C GOOG	GOOG	9,678,609	$1.8bn2.69%	2.69%	New
12	COCA COLA CO COM KO	KO	26,753,451	$1.7bn2.58%	2.58%	New
13	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	9,585,361	$1.7bn2.53%	2.53%	Added +1.0m	+1,047,084 12.3%
14	ICICI BANK LIMITED ADR IBN	IBN	56,459,625	$1.6bn2.47%	2.47%	Added +9.2m	+9,165,663 19.4%
15	QUALCOMM INC COM QCOM	QCOM	8,161,717	$1.6bn2.46%	2.46%	New
16	PROCTER AND GAMBLE CO COM PG	PG	9,006,114	$1.5bn2.25%	2.25%	Added +9.0m	+8,965,721 22196.2%
17	VISA INC COM CL A V	V	5,644,609	$1.5bn2.25%	2.25%	Reduced -346.0k	-346,025 -5.8%
18	PDD HOLDINGS INC SPONSORED ADS PDD	PDD	10,807,761	$1.4bn2.18%	2.18%	New
19	SYNOPSYS INC COM SNPS	SNPS	2,196,435	$1.3bn1.98%	1.98%	Added +101.3k	+101,335 4.8%
20	APPLOVIN CORP COM CL A APP	APP	13,289,036	$1.1bn1.68%	1.68%	Reduced -9.4m	-9,357,153 -41.3%
21	WALMART INC COM WMT	WMT	16,239,177	$1.1bn1.67%	1.67%	Added +16.2m	+16,185,720 30278.0%
22	SOUTHERN CO COM SO	SO	13,679,017	$1.1bn1.61%	1.61%	New
23	ASML HOLDING N V N Y REGISTRY SHS ASML	ASML	1,015,501	$1.0bn1.57%	1.57%	Reduced -642.4k	-642,377 -38.8%
24	NETFLIX INC COM NFLX	NFLX	1,440,441	$972.1m1.47%	1.47%	Reduced -947.8k	-947,842 -39.7%
25	NEXTERA ENERGY INC COM NEE	NEE	12,492,024	$884.6m1.34%	1.34%	Added +11.2m	+11,178,622 851.1%
26	AMERICAN ELEC PWR CO INC COM AEP	AEP	9,582,264	$840.7m1.27%	1.27%	New
27	COLGATE PALMOLIVE CO COM CL	CL	8,459,725	$820.9m1.24%	1.24%	New
28	MONDELEZ INTL INC CL A MDLZ	MDLZ	12,322,316	$806.4m1.22%	1.22%	New
29	CANADIAN NAT RES LTD COM CNQ	CNQ	19,498,692	$694.4m1.05%	1.05%	Reduced -322.0k	-321,980 -1.6%
30	NOVO-NORDISK A S ADR NVO	NVO	4,214,216	$601.5m0.91%	0.91%	Added +581.2k	+581,152 16.0%
31	MERCADOLIBRE INC COM MELI	MELI	286,836	$471.4m0.71%	0.71%	Reduced -507.9k	-507,946 -63.9%
32	VALE S A SPONSORED ADS VALE	VALE	29,956,481	$334.6m0.51%	0.51%	New
33	DUKE ENERGY CORP NEW COM NEW DUK	DUK	2,599,671	$260.6m0.40%	0.40%	Added +2.5m	+2,536,596 4021.6%
34	KASPI KZ JSC SPONSORED ADS KSPI	KSPI	1,967,767	$253.9m0.38%	0.38%	Reduced -1.7k	-1,679 -0.1%
35	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		2,999,584	$233.9m0.35%	0.35%	Added +2.8m	+2,780,090 1266.6%
36	SHELL PLC SPON ADS SHEL	SHEL	3,118,507	$225.1m0.34%	0.34%	Added +3.1m	+3,114,772 83394.2%
37	JPMORGAN CHASE & CO COM JPM	JPM	1,059,069	$214.2m0.32%	0.32%	Added +1.0m	+1,016,684 2398.7%
38	KE HLDGS INC SPONSORED ADS BEKE	BEKE	12,989,997	$183.8m0.28%	0.28%	New
39	ECOPETROL S A SPONSORED ADS EC	EC	12,321,905	$137.9m0.21%	0.21%	Added +29.9k	+29,949 0.2%
40	HDFC BANK LTD SPONSORED ADS HDB	HDB	640,558	$41.2m0.06%	0.06%	New
41	ALPHABET INC CAP STK CL A GOOGL	GOOGL	191,714	$34.9m0.05%	0.05%	New
42	DR REDDYS LABS LTD ADR RDY	RDY	436,951	$33.3m0.05%	0.05%	Unchanged
43	EXXON MOBIL CORP COM XOM	XOM	258,076	$29.7m0.05%	0.05%	Added +205.8k	+205,792 393.6%
44	UNILEVER PLC SPON ADR NEW SPON ADR NEW		469,935	$25.8m0.04%	0.04%	New
45	TOTALENERGIES SE SPONSORED ADS SPONSORED ADS		267,655	$17.8m0.03%	0.03%	Added +157.8k	+157,823 143.7%
46	ITAU UNIBANCO HLDG S A SPON ADR REP PFD ITUB	ITUB	2,769,699	$16.2m0.02%	0.02%	Added +1.2m	+1,176,911 73.9%
47	SAP SE SPON ADR SAP	SAP	76,691	$15.5m0.02%	0.02%	Added +88	+88 0.1%
48	APPLIED MATLS INC COM AMAT	AMAT	44,862	$10.6m0.02%	0.02%	Added +4.8k	+4,798 12.0%
49	BEST BUY INC COM BBY	BBY	115,300	$9.7m0.01%	0.01%	New
50	MASTERCARD INCORPORATED CL A MA	MA	18,848	$8.3m0.01%	0.01%	Added +3.4k	+3,363 21.7%
51	JOHNSON & JOHNSON COM JNJ	JNJ	55,868	$8.2m0.01%	0.01%	New
52	MERCK & CO INC COM MRK	MRK	58,092	$7.2m0.01%	0.01%	Added +9.7k	+9,653 19.9%
53	GOLDMAN SACHS GROUP INC COM GS	GS	15,416	$7.0m0.01%	0.01%	Added +1.7k	+1,677 12.2%
54	ONEOK INC NEW COM OKE	OKE	82,243	$6.7m0.01%	0.01%	Reduced -374.2k	-374,236 -82.0%
55	CMS ENERGY CORP COM CMS	CMS	92,536	$5.5m0.01%	0.01%	New
56	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	52,638	$5.4m0.01%	0.01%	Added +2.4k	+2,446 4.9%
57	CME GROUP INC COM CME	CME	27,501	$5.4m0.01%	0.01%	Added +1.3k	+1,253 4.8%
58	CITIGROUP INC COM NEW C	C	76,599	$4.9m0.01%	0.01%	Added +3.5k	+3,544 4.8%
59	CHEVRON CORP NEW COM CVX	CVX	30,246	$4.7m0.01%	0.01%	New
60	AMERICAN INTL GROUP INC COM NEW AIG	AIG	56,565	$4.2m0.01%	0.01%	Added +2.6k	+2,600 4.8%
61	FORTIS INC COM FTS	FTS	101,559	$3.9m0.01%	0.01%	Added +14.1k	+14,141 16.2%
62	HSBC HLDGS PLC SPON ADR NEW HSBC	HSBC	78,624	$3.4m0.01%	0.01%	Added +3.3k	+3,257 4.3%
63	ENI S P A SPONSORED ADR E	E	108,814	$3.4m0.01%	0.01%	Added +24.6k	+24,621 29.2%
64	MANULIFE FINL CORP COM MFC	MFC	105,211	$2.8m0.00%	0.00%	Added +28.8k	+28,810 37.7%
65	RIO TINTO PLC SPONSORED ADR RIO	RIO	42,280	$2.8m0.00%	0.00%	Added +3.6k	+3,650 9.4%
66	ORACLE CORP COM ORCL	ORCL	18,943	$2.7m0.00%	0.00%	New
67	TEXAS INSTRS INC COM TXN	TXN	12,960	$2.5m0.00%	0.00%	New
68	YPF SOCIEDAD ANONIMA SPON ADR CL D YPF	YPF	110,000	$2.2m0.00%	0.00%	New
69	AUTOMATIC DATA PROCESSING IN COM ADP	ADP	5,988	$1.4m0.00%	0.00%	Added +276	+276 4.8%
70	TRANSOCEAN LTD REGISTERED SHS RIG	RIG	161,908	$866.2k0.00%	0.00%	Reduced -3.9m	-3,881,633 -96.0%
71	PEPSICO INC COM PEP	PEP	5,122	$844.7k0.00%	0.00%	Reduced -31.3k	-31,314 -85.9%
72	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	1,448	$788.1k0.00%	0.00%	Added +933	+933 181.2%
73	NORTHROP GRUMMAN CORP COM NOC	NOC	856	$373.2k0.00%	0.00%	New
74	UBER TECHNOLOGIES INC COM UBER	UBER	4,117	$299.2k0.00%	0.00%	Reduced -22.4m	-22,419,334 -100.0%
75	NOVARTIS AG SPONSORED ADR NVS	NVS	2,475	$263.5k0.00%	0.00%	New
76	ROYAL BK CDA COM RY	RY	2,433	$258.8k0.00%	0.00%	New
77	LAM RESEARCH CORP COM COM		226	$241.0k0.00%	0.00%	Reduced -2.2m	-2,155,850 -100.0%
78	KLA CORP COM NEW KLAC	KLAC	279	$230.0k0.00%	0.00%	New
79	DEUTSCHE BANK A G NAMEN AKT DB	DB	13,226	$211.0k0.00%	0.00%	New

Sold out since Q1 2024

Security	Ticker	Shares held before	Value then
SHOPIFY INC SHOP	SHOP	20,901,980	$1.6bn20.9m shares
ADVANCED MICRO DEVICES INC AMD	AMD	8,044,462	$1.5bn8.0m shares
ARM HOLDINGS PLC ARM	ARM	10,682,133	$1.3bn10.7m shares
SUPER MICRO COMPUTER INC		1,312,304	$1.3bn1.3m shares
SALESFORCE INC CRM	CRM	3,022,178	$910.2m3.0m shares
SERVICENOW INC NOW	NOW	1,163,963	$887.4m1.2m shares
ARISTA NETWORKS INC		3,041,065	$881.8m3.0m shares
D R HORTON INC DHI	DHI	3,715,790	$611.4m3.7m shares
SPOTIFY TECHNOLOGY S A SPOT	SPOT	2,311,633	$610.0m2.3m shares
MICRON TECHNOLOGY INC MU	MU	4,524,330	$533.4m4.5m shares
INTUIT INTU	INTU	624,942	$406.2m624.9k shares
CONSTELLATION ENERGY CORP CEG	CEG	1,774,127	$327.9m1.8m shares
KKR & CO INC KKR	KKR	2,157,531	$217.0m2.2m shares
VISTRA CORP VST	VST	2,564,705	$178.6m2.6m shares
MARTIN MARIETTA MATLS INC MLM	MLM	196,186	$120.4m196.2k shares
INTUITIVE SURGICAL INC ISRG	ISRG	249,376	$99.5m249.4k shares
CELSIUS HLDGS INC CELH	CELH	920,793	$76.4m920.8k shares
INFOSYS LTD INFY	INFY	912,376	$16.4m912.4k shares
BLACKSTONE INC BX	BX	79,959	$10.5m80.0k shares
FORD MTR CO F	F	530,634	$7.0m530.6k shares
TOYOTA MOTOR CORP TM	TM	19,437	$4.9m19.4k shares
ARCH RESOURCES INC		29,981	$4.8m30.0k shares
CATERPILLAR INC CAT	CAT	10,053	$3.7m10.1k shares
STELLANTIS N.V STLA	STLA	124,120	$3.5m124.1k shares
TARGET CORP TGT	TGT	19,057	$3.4m19.1k 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