# GQG Partners LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1697233. Source: https://holderbook.com/funds/1697233-gqg-partners-llc/

- Reported value: $53.8B
- Positions: 102
- Weight of the ten largest: 53.1%
- Filed: 2026-08-12

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| PHILIP MORRIS INTL INC | [PM](https://holderbook.com/stocks/PM/) | $8.2B | 45,436,985 | 15.3% | 26 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $4.3B | 12,473,178 | 7.9% | 8 |
| PETROLEO BRASILEIRO S A | [PBR](https://holderbook.com/stocks/PBR/) | $3.1B | 193,198,230 | 5.8% | 21 |
| ENBRIDGE INC | [ENB](https://holderbook.com/stocks/ENB/) | $2.7B | 49,084,876 | 4.9% | 9 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $2.3B | 16,877,523 | 4.3% | 21 |
| ALTRIA GROUP INC | [MO](https://holderbook.com/stocks/MO/) | $1.8B | 25,111,622 | 3.4% | 7 |
| THE CIGNA GROUP | [CI](https://holderbook.com/stocks/CI/) | $1.6B | 5,908,707 | 3.0% | 8 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $1.5B | 7,043,101 | 2.9% | 8 |
| VERIZON COMMUNICATIONS INC | [VZ](https://holderbook.com/stocks/VZ/) | $1.5B | 35,877,241 | 2.8% | 8 |
| BRITISH AMERN TOB PLC | [BTI](https://holderbook.com/stocks/BTI/) | $1.5B | 24,566,708 | 2.8% | 8 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $1.5B | 18,389,277 | 2.8% | 9 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $1.4B | 10,263,074 | 2.6% | 9 |
| ALLSTATE CORP | [ALL](https://holderbook.com/stocks/ALL/) | $1.2B | 5,235,375 | 2.3% | 8 |
| AT&T INC | [T](https://holderbook.com/stocks/T/) | $1.2B | 59,099,713 | 2.3% | 8 |
| AMERICAN WTR WKS CO INC NEW | [AWK](https://holderbook.com/stocks/AWK/) | $1.2B | 8,903,133 | 2.2% | 7 |
| TC ENERGY CORP | [TRP](https://holderbook.com/stocks/TRP/) | $1.1B | 16,736,302 | 2.1% | 4 |
| EXELON CORP | [EXC](https://holderbook.com/stocks/EXC/) | $922.9M | 19,796,580 | 1.7% | 6 |
| ICICI BANK LIMITED | [IBN](https://holderbook.com/stocks/IBN/) | $897.0M | 30,898,356 | 1.7% | 23 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $891.7M | 11,104,441 | 1.7% | 5 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $823.2M | 6,503,039 | 1.5% | 10 |
| CVS HEALTH CORP | [CVS](https://holderbook.com/stocks/CVS/) | $823.0M | 7,955,411 | 1.5% | 3 |
| TRAVELERS COMPANIES INC | [TRV](https://holderbook.com/stocks/TRV/) | $789.0M | 2,390,090 | 1.5% | 1 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $716.4M | 4,321,814 | 1.3% | 6 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $651.3M | 7,420,437 | 1.2% | 11 |
| ATLASSIAN CORPORATION | [TEAM](https://holderbook.com/stocks/TEAM/) | $595.7M | 7,658,413 | 1.1% | 1 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $590.2M | 2,949,752 | 1.1% | 14 |
| AMBEV SA | [ABEV](https://holderbook.com/stocks/ABEV/) | $581.1M | 185,072,397 | 1.1% | 5 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $522.4M | 14,138,369 | 1.0% | 2 |
| UNILEVER PLC | [UL](https://holderbook.com/stocks/UL/) | $521.5M | 8,673,777 | 1.0% | 3 |
| HERSHEY CO | [HSY](https://holderbook.com/stocks/HSY/) | $485.4M | 2,766,786 | 0.9% | 1 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $483.6M | 1,921,614 | 0.9% | 1 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $478.9M | 1,110,030 | 0.9% | 1 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $414.0M | 866,910 | 0.8% | 27 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $411.6M | 16,592,495 | 0.8% | 2 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $402.6M | 9,742,444 | 0.7% | 2 |
| ITAU UNIBANCO HLDG S A | [ITUB](https://holderbook.com/stocks/ITUB/) | $393.3M | 48,136,668 | 0.7% | 21 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $372.2M | 1,286,388 | 0.7% | 1 |
| CMS ENERGY CORP | [CMS](https://holderbook.com/stocks/CMS/) | $363.4M | 4,750,161 | 0.7% | 9 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $337.1M | 2,151,131 | 0.6% | 9 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $333.1M | 591,397 | 0.6% | 1 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $316.5M | 848,548 | 0.6% | 1 |
| INTUITIVE SURGICAL INC | [ISRG](https://holderbook.com/stocks/ISRG/) | $310.4M | 780,428 | 0.6% | 1 |
| INFOSYS LTD | [INFY](https://holderbook.com/stocks/INFY/) | $283.2M | 26,999,640 | 0.5% | 1 |
| CINCINNATI FINL CORP | [CINF](https://holderbook.com/stocks/CINF/) | $216.7M | 1,170,338 | 0.4% | 6 |
| EMBRAER S.A. | [EMBJ](https://holderbook.com/stocks/EMBJ/) | $203.4M | 3,188,244 | 0.4% | 6 |
| ATMOS ENERGY CORP | [ATO](https://holderbook.com/stocks/ATO/) | $202.4M | 1,175,136 | 0.4% | 5 |
| STATE STR CORP | [STT](https://holderbook.com/stocks/STT/) | $187.6M | 1,106,046 | 0.3% | 1 |
| RENAISSANCERE HLDGS LTD | [RNR](https://holderbook.com/stocks/RNR/) | $185.4M | 584,871 | 0.3% | 3 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $180.4M | 3,166,564 | 0.3% | 1 |
| CENTERPOINT ENERGY INC | [CNP](https://holderbook.com/stocks/CNP/) | $176.6M | 4,009,382 | 0.3% | 6 |
| ARCH CAP GROUP LTD | [ACGL](https://holderbook.com/stocks/ACGL/) | $166.7M | 1,717,256 | 0.3% | 6 |
| MCDONALDS CORP | [MCD](https://holderbook.com/stocks/MCD/) | $162.6M | 601,383 | 0.3% | 1 |
| NETEASE COM INC | [NTES](https://holderbook.com/stocks/NTES/) | $157.2M | 1,226,473 | 0.3% | 1 |
| BROADCOM INC | [AVGO](https://holderbook.com/stocks/AVGO/) | $140.8M | 372,865 | 0.3% | 1 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $136.8M | 573,974 | 0.3% | 13 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $123.3M | 2,293,204 | 0.2% | 2 |
| DIAMONDBACK ENERGY INC | [FANG](https://holderbook.com/stocks/FANG/) | $103.2M | 587,036 | 0.2% | 1 |
| ANHEUSER BUSCH INBEV SA/NV | [BUD](https://holderbook.com/stocks/BUD/) | $75.7M | 918,338 | 0.1% | 3 |
| OLD REP INTL CORP | [ORI](https://holderbook.com/stocks/ORI/) | $72.0M | 1,760,732 | 0.1% | 3 |
| JD.COM INC | [JD](https://holderbook.com/stocks/JD/) | $58.7M | 2,304,023 | 0.1% | 1 |
| PEPSICO INC | [PEP](https://holderbook.com/stocks/PEP/) | $29.5M | 218,202 | 0.1% | 2 |
| CREDICORP LTD | [BAP](https://holderbook.com/stocks/BAP/) | $28.4M | 72,991 | 0.1% | 7 |
| ENI S P A | [E](https://holderbook.com/stocks/E/) | $27.7M | 590,882 | 0.1% | 18 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $22.6M | 63,882 | 0.0% | 9 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $20.5M | 263,895 | 0.0% | 3 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $11.0M | 14,777 | 0.0% | 10 |
| CANADIAN NAT RES LTD MED TER | [CNQ](https://holderbook.com/stocks/CNQ/) | $10.9M | 274,860 | 0.0% | 2 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $8.6M | 30,749 | 0.0% | 1 |
| ASTRAZENECA PLC | [AZN](https://holderbook.com/stocks/AZN/) | $8.5M | 45,569 | 0.0% | 2 |
| NATIONAL GRID PLC | [NGG](https://holderbook.com/stocks/NGG/) | $8.4M | 101,755 | 0.0% | 8 |
| BANCO BILBAO VIZCAYA ARGENTA | [BBVA](https://holderbook.com/stocks/BBVA/) | $8.3M | 330,608 | 0.0% | 1 |
| SAP SE | [SAP](https://holderbook.com/stocks/SAP/) | $7.0M | 45,468 | 0.0% | 1 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $6.9M | 26,587 | 0.0% | 6 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $6.8M | 53,092 | 0.0% | 22 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $6.4M | 25,158 | 0.0% | 9 |
| BRISTOL-MYERS SQUIBB CO | [BMY](https://holderbook.com/stocks/BMY/) | $5.5M | 96,264 | 0.0% | 2 |
| AMERICAN INTL GROUP INC | [AIG](https://holderbook.com/stocks/AIG/) | $5.5M | 73,409 | 0.0% | 11 |
| PPL CORP | [PPL](https://holderbook.com/stocks/PPL/) | $5.3M | 146,588 | 0.0% | 5 |
| SOUTHERN CO | [SO](https://holderbook.com/stocks/SO/) | $5.1M | 53,777 | 0.0% | 9 |
| SPDR GOLD TR | [GLD](https://holderbook.com/stocks/GLD/) | $5.0M | 13,626 | 0.0% | 2 |
| FACTSET RESH SYS INC | [FDS](https://holderbook.com/stocks/FDS/) | $4.9M | 21,296 | 0.0% | 1 |
| PROCTER & GAMBLE CO | [PG](https://holderbook.com/stocks/PG/) | $4.3M | 29,177 | 0.0% | 11 |
| SANOFI SA | [SNY](https://holderbook.com/stocks/SNY/) | $4.2M | 97,640 | 0.0% | 4 |
| HSBC HLDGS PLC | [HSBC](https://holderbook.com/stocks/HSBC/) | $3.6M | 37,717 | 0.0% | 1 |
| BANCO SANTANDER S.A. | [SAN](https://holderbook.com/stocks/SAN/) | $3.6M | 259,273 | 0.0% | 1 |
| OMNICOM GROUP INC | [OMC](https://holderbook.com/stocks/OMC/) | $3.3M | 45,743 | 0.0% | 1 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $3.2M | 131,567 | 0.0% | 4 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $2.1M | 13,470 | 0.0% | 7 |
| LLOYDS BANKING GROUP PLC | [LYG](https://holderbook.com/stocks/LYG/) | $2.0M | 341,126 | 0.0% | 1 |
| KROGER CO | [KR](https://holderbook.com/stocks/KR/) | $1.9M | 34,235 | 0.0% | 5 |
| WORKDAY INC | [WDAY](https://holderbook.com/stocks/WDAY/) | $1.9M | 15,242 | 0.0% | 1 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $1.1M | 540 | 0.0% | 1 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $1.0M | 2,481 | 0.0% | 8 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $954.1K | 1,852 | 0.0% | 13 |
| ROYAL BK CDA | [RY](https://holderbook.com/stocks/RY/) | $633.1K | 3,059 | 0.0% | 9 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $610.9K | 5,394 | 0.0% | 19 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $465.3K | 6,001 | 0.0% | 15 |
| AXIA ENERGIA SA | [AXIA](https://holderbook.com/stocks/AXIA/) | $321.1K | 30,403 | 0.0% | 5 |
| GOLDMAN SACHS GROUP INC | [GS](https://holderbook.com/stocks/GS/) | $301.2K | 298 | 0.0% | 7 |
| AUTODESK INC | [ADSK](https://holderbook.com/stocks/ADSK/) | $229.5K | 1,180 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -2.6% | +14.8% | -17.4% | 100% |
| Q1 2026 | +6.6% | -4.6% | +11.3% | 100% |
| Q4 2025 | -1.1% | +2.4% | -3.4% | 100% |
| Q3 2025 | -1.4% | +7.8% | -9.2% | 100% |
| Q2 2025 | +4.8% | +10.5% | -5.6% | 100% |
| Q1 2025 | +1.9% | -4.6% | +6.4% | 100% |
| Q4 2024 | -0.1% | +2.1% | -2.3% | 100% |
| Q3 2024 | +4.8% | +5.4% | -0.6% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $53.8B | 102 |
| Q1 2026 | $63.1B | 81 |
| Q4 2025 | $60.7B | 87 |
| Q3 2025 | $65.1B | 93 |
| Q2 2025 | $70.3B | 93 |
| Q1 2025 | $62.8B | 86 |
| Q4 2024 | $67.4B | 92 |
| Q3 2024 | $63.8B | 78 |
| Q2 2024 | $66.0B | 79 |
| Q1 2024 | $62.2B | 86 |
| Q4 2023 | $47.2B | 76 |
| Q3 2023 | $43.2B | 73 |