GQG Partners LLC
Reported US equity positions for Q1 2026 — $63.1B across 86 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| PM Philip Morris International Inc | $8.3B | 13.1% | 50,105,900 |
| ENB Enbridge Inc | $4.1B | 6.5% | 76,426,780 |
| H1467J104 Chubb LTD Switz | $4.0B | 6.4% | 12,418,796 |
| PBR Petroleo Brasileiro S.A. Petrobras ADS | $3.6B | 5.7% | 173,440,105 |
| T AT&T Inc. | $2.4B | 3.7% | 81,353,084 |
| BAC Bank of America Corporation | $2.3B | 3.6% | 45,714,595 |
| CVX Chevron Corporation | $2.1B | 3.4% | 10,266,187 |
| IBN ICICI Bank Limited | $2.0B | 3.2% | 77,366,552 |
| AEP American Electric Power Company, Inc. | $2.0B | 3.1% | 15,025,884 |
| PGR The Progressive Corporation | $1.8B | 2.9% | 9,138,940 |
| JNJ Johnson & Johnson | $1.8B | 2.8% | 7,317,289 |
| BTI British American Tobacco Industries, p.l.c. Common Stock ADR | $1.6B | 2.6% | 27,683,334 |
| KO The Coca-Cola Company | $1.6B | 2.5% | 21,119,167 |
| CI The Cigna Group | $1.6B | 2.5% | 6,002,448 |
| MO Altria Group, Inc. | $1.6B | 2.5% | 23,836,839 |
| ALL The Allstate Corporation | $1.2B | 1.9% | 5,761,603 |
| OXY Occidental Petroleum Corporation | $1.2B | 1.9% | 18,311,639 |
| SU Suncor Energy Inc. | $1.1B | 1.8% | 17,218,819 |
| XOM ExxonMobil Holdings Corporation | $1.1B | 1.8% | 6,663,103 |
| PEO Adams Natural Resources Fund, Inc. | $1.1B | 1.7% | 22,278,201 |
| TRP TC Energy Corporation | $1.1B | 1.7% | 16,946,570 |
| DUK Duke Energy Corporation (Holding Company) | $1.0B | 1.6% | 7,802,463 |
| KR The Kroger Company | $921.7M | 1.5% | 12,737,042 |
| BRK.B Berkshire Hathaway Inc. | $908.9M | 1.4% | 1,896,646 |
| XEL Xcel Energy Inc. | $889.2M | 1.4% | 11,193,162 |
| AWK American Water Works Company, Inc. | $875.2M | 1.4% | 6,431,056 |
| NEE NextEra Energy, Inc. | $860.0M | 1.4% | 9,258,727 |
| CRC California Resources Corporation | $853.7M | 1.4% | 17,555,471 |
| HDB HDFC Bank Limited | $848.3M | 1.3% | 34,095,946 |
| DVN Devon Energy Corporation | $813.7M | 1.3% | 16,170,345 |
| AIG American International Group, Inc. | $796.7M | 1.3% | 10,587,437 |
| CME CME Group Inc. | $775.5M | 1.2% | 2,625,795 |
| CVE Cenovus Energy Inc | $708.3M | 1.1% | 26,774,463 |
| ITUB Itau Unibanco Banco Holding SA American Preferred | $684.2M | 1.1% | 81,646,220 |
| ABEV Ambev S.A. American Preferred | $546.1M | 0.9% | 187,037,538 |
| UL Unilever PLC American Preferred | $535.6M | 0.8% | 9,401,286 |
| NVS Novartis AG | $373.8M | 0.6% | 2,447,272 |
| EMBJ Embraer S.A. | $360.4M | 0.6% | 6,073,854 |
| CMS CMS Energy Corporation | $342.3M | 0.5% | 4,412,573 |
| FNV Franco-Nevada Corporation | $288.0M | 0.5% | 1,166,853 |
| VALE VALE S.A. American Preferred | $263.7M | 0.4% | 16,574,442 |
| BP BP p.l.c. | $256.7M | 0.4% | 5,462,538 |
| CINF Cincinnati Financial Corporation | $238.9M | 0.4% | 1,518,318 |
| CNP CenterPoint Energy, Inc (Holding Co) | $204.6M | 0.3% | 4,741,580 |
| PEP PepsiCo, Inc. | $164.8M | 0.3% | 1,061,310 |
| ATO Atmos Energy Corporation | $163.9M | 0.3% | 887,204 |
| G0450A105 Arch Cap Group LTD | $158.0M | 0.3% | 1,646,026 |
| G7496G103 Renaissancere Hldgs LTD | $149.3M | 0.2% | 502,346 |
| ORI Old Republic International Corporation | $140.9M | 0.2% | 3,532,203 |
| ASR Grupo Aeroportuario del Sureste, S.A. de C.V. | $123.1M | 0.2% | 366,108 |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $59.8M | 0.1% | 176,817 |
| G2519Y108 Credicorp LTD | $24.8M | 0.0% | 72,991 |
| F92124100 Totalenergies Se | $22.4M | 0.0% | 242,809 |
| E ENI S.p.A. | $17.0M | 0.0% | 300,743 |
| PG The Procter & Gamble Company | $13.9M | 0.0% | 96,492 |
| PPL PPL Corporation | $13.2M | 0.0% | 345,965 |
| G0593M107 Astrazeneca PLC | $8.9M | 0.0% | 45,524 |
| VLO Valero Energy Corporation | $8.4M | 0.0% | 33,912 |
| SNY Sanofi | $7.9M | 0.0% | 164,705 |
| MRK Merck & Company, Inc. Common Stock (new) | $6.4M | 0.0% | 53,016 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| OXY Occidental Petroleum Corporation | New | $1.2B | — | — |
| SU Suncor Energy Inc. | New | $1.1B | — | — |
| CRC California Resources Corporation | New | $853.7M | — | — |
| DVN Devon Energy Corporation | New | $813.7M | — | — |
| CVE Cenovus Energy Inc | New | $708.3M | — | — |
| BP BP p.l.c. | New | $256.7M | — | — |
| PEP PepsiCo, Inc. | New | $164.8M | — | — |
| G0593M107 Astrazeneca PLC | New | $8.9M | — | — |
| BMY Bristol-Myers Squibb Company | New | $2.8M | — | — |
| GLD SPDR Gold Shares | New | $1.2M | — | — |
| CTSH Cognizant Technology Solutions Corporation | Exit | — | $673.7M | -100% |
| CL Colgate-Palmolive Company | Exit | — | $584.5M | -100% |
| INFY Infosys Limited American Depositary Shares | Exit | — | $519.1M | -100% |
| G1151C101 Accenture PLC Ireland | Exit | — | $224.1M | -100% |
| GGAL Grupo Financiero Galicia S.A. | Exit | — | $165.9M | -100% |
| AZNN Astrazeneca PLC | Exit | — | $9.4M | -100% |
| HII Huntington Ingalls Industries, Inc. | Exit | — | $5.5M | -100% |
| MSFT Microsoft Corporation | Exit | — | $877,639 | -100% |
| LLY Eli Lilly and Company | Exit | — | $666,162 | -100% |
| VT Vanguard Total World Stock Index ETF | Exit | — | $598,764 | -100% |
| SAP SAP SE ADS | Exit | — | $425,016 | -100% |
| NOW ServiceNow, Inc. | Exit | — | $358,186 | -100% |
| META Meta Platforms, Inc. | Exit | — | $341,995 | -100% |
| NFLX Netflix, Inc. | Exit | — | $318,235 | -100% |
| DEO Diageo plc | Exit | — | $265,367 | -100% |
| AVGO Broadcom Inc. | Exit | — | $210,571 | -100% |
| PM Philip Morris International Inc | Trim | $8.3B | $8.8B | -9% |
| ENB Enbridge Inc | Trim | $4.1B | $3.8B | -5% |
| PBR Petroleo Brasileiro S.A. Petrobras ADS | Add | $3.6B | $1.6B | +28% |
| T AT&T Inc. | Trim | $2.4B | $2.1B | -5% |
| BAC Bank of America Corporation | Add | $2.3B | $1.8B | +4% |
| CVX Chevron Corporation | Add | $2.1B | $214.0M | +631% |
| IBN ICICI Bank Limited | Add | $2.0B | $2.2B | +4% |
| AEP American Electric Power Company, Inc. | Trim | $2.0B | $1.9B | -11% |
| PGR The Progressive Corporation | Trim | $1.8B | $2.4B | -12% |
| JNJ Johnson & Johnson | Trim | $1.8B | $1.6B | -6% |
| BTI British American Tobacco Industries, p.l.c. Common Stock ADR | Trim | $1.6B | $1.6B | -1% |
| KO The Coca-Cola Company | Trim | $1.6B | $1.8B | -20% |
| CI The Cigna Group | Trim | $1.6B | $2.1B | -23% |
| MO Altria Group, Inc. | Trim | $1.6B | $1.4B | -5% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.