GQG Partners LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), GQG Partners LLC reported 86 stock positions worth $62.8 billion. Its top holding was Philip Morris International (PM) at 12.3% of the portfolio, followed by Petroleo Brasileiro-Spon ADR (PBR, 5.9%) and Enbridge (ENB, 5.3%). Compared with Q4 2024, it opened 18 new positions, sold out of 24, added to 32 and reduced 32. The biggest buy was Verizon Communications (VZ, shares +304%) and the biggest sale Meta Platforms Class A (META, shares −75%).
- Most Recent 13F
- Q2 2026
- Location
- FT. LAUDERDALE, FL
- CIK
- 0001697233
- Portfolio Value
- $62.8B (Q1 2025)
- SEC Filing
- 0001062993-25-009131 ↗ filed May 13, 2025
Holdings Value
Holdings 86 stocks · $62.8B
| PM Philip Morris International | 12.27% | 48,516,029 | $7.7B | Reduce -0.5% |
| PBR Petroleo Brasileiro-Spon ADR | 5.85% | 256,098,882 | $3.7B | Add +8.0% |
| ENB Enbridge Inc. | 5.32% | 75,439,320 | $3.3B | Add +1.6% |
| T AT&T Inc. | 5.13% | 113,957,259 | $3.2B | Add +17.8% |
| CB Chubb Ltd. | 4.52% | 9,394,018 | $2.8B | Add +112.1% |
| IBN Icici Bank Ltd.-Spon ADR | 3.89% | 77,407,725 | $2.4B | Add +20.6% |
| PGR Progressive Corp. | 3.76% | 8,346,133 | $2.4B | Add +61.4% |
| VZ Verizon Communications Inc. | 3.60% | 49,859,967 | $2.3B | Add +303.9% |
| AEP American Electric Power | 3.42% | 19,631,466 | $2.1B | Add +30.4% |
| MSFT Microsoft Corp. | 2.68% | 4,487,336 | $1.7B | Reduce -29.2% |
| AIG American International Group | 2.62% | 18,909,539 | $1.6B | Add +33315.0% |
| CI The Cigna Group | 2.56% | 4,886,674 | $1.6B | Add +21.5% |
| GE General Electric filed as GE AEROSPACE | 2.56% | 8,028,180 | $1.6B | New |
| LLY Eli Lilly & Co. | 2.41% | 1,829,453 | $1.5B | Reduce -59.7% |
| CVX Chevron Corp. | 2.34% | 8,767,716 | $1.5B | New |
| META Meta Platforms Inc. Class A | 2.16% | 2,357,705 | $1.4B | Reduce -74.7% |
| V Visa Inc. Class A | 2.08% | 3,729,037 | $1.3B | Reduce -16.9% |
| NFLX Netflix Inc. | 2.06% | 1,387,631 | $1.3B | Reduce -27.2% |
| DUK Duke Energy Corp. | 1.99% | 10,249,508 | $1.3B | Add +17880.0% |
| NEE Nextera Energy Inc. | 1.95% | 17,236,502 | $1.2B | Add +58.4% |
| XOM Exxon Mobil Corp. | 1.91% | 10,071,077 | $1.2B | Add +15135.7% |
| TSM Taiwan Semiconductor-SP ADR | 1.83% | 6,928,284 | $1.2B | Reduce -11.4% |
| MO Altria Group Inc. | 1.79% | 18,698,594 | $1.1B | Add +8146.4% |
| HDB HDFC Bank Ltd.-ADR | 1.71% | 16,196,992 | $1.1B | Add +105.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.66% | 4,182,647 | $1.0B | New |
| ALL Allstate Corp. | 1.45% | 4,405,701 | $912.3M | Add +2.1% |
| MELI MercadoLibre Inc. | 1.44% | 461,875 | $901.1M | Add +23.5% |
| PG The Procter & Gamble Co. | 1.30% | 4,784,431 | $815.4M | Reduce -10.2% |
| BMY Bristol-Myers Squibb Co. | 1.17% | 12,023,454 | $733.3M | Add +22647.6% |
| TRGP Targa Resources Corp. | 1.15% | 3,614,307 | $724.6M | Add +64.0% |
| BDX Becton Dickinson and Co. | 1.10% | 3,011,583 | $689.8M | New |
| CME Cme Group Inc. | 0.93% | 2,205,041 | $585.0M | Add +7676.3% |
| AMZN Amazon.com Inc. | 0.79% | 2,596,736 | $494.1M | Reduce -67.2% |
| DB Deutsche Bank AG-Registered | 0.75% | 19,970,945 | $470.7M | New |
| SPOT Spotify Technology SA | 0.71% | 812,139 | $446.7M | Reduce -54.6% |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.68% | 77,734,889 | $427.5M | Add +738.6% |
| CL Colgate-Palmolive Co. | 0.64% | 4,296,464 | $402.6M | Reduce -1.5% |
| BTI British American Tob-SP ADR | 0.63% | 9,598,465 | $397.1M | Add +59.8% |
| VALE Vale SA-SP ADR | 0.59% | 37,252,302 | $371.8M | New |
| KO The Coca-Cola Co. | 0.54% | 4,769,746 | $341.6M | Reduce -31.8% |
| OKE Oneok Inc. | 0.48% | 3,065,067 | $304.1M | Add +148.2% |
| EMBJ Embraer SA-Spon ADR | 0.44% | 5,979,351 | $276.2M | New |
| CINF Cincinnati Financial Corp. | 0.43% | 1,827,817 | $270.0M | New |
| FISV Fiserv Inc. | 0.42% | 1,203,502 | $265.8M | New |
| SHEL Shell PLC-ADR | 0.33% | 2,867,929 | $210.2M | Add +42743.3% |
| MMYT Makemytrip Ltd. | 0.31% | 2,009,506 | $196.9M | Add +273.1% |
| CPNG Coupang Inc. | 0.27% | 7,666,520 | $168.1M | New |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.26% | 1,730,163 | $160.6M | Add +8.8% |
| EXC Exelon Corp. | 0.18% | 2,448,611 | $112.8M | New |
| AZN Astrazeneca PLC-Spons ADR | 0.17% | 1,457,030 | $107.1M | Reduce -66.7% |
| CNP Centerpoint Energy Inc. | 0.13% | 2,170,367 | $78.6M | New |
| ACGL Arch Capital Group Ltd. | 0.11% | 746,196 | $71.8M | New |
| JD Jd.com Inc.-ADR | 0.08% | 1,260,326 | $51.8M | Add +770.9% |
| NDAQ Nasdaq Inc. | 0.08% | 660,595 | $50.1M | New |
| BAP Credicorp Ltd. | 0.07% | 219,219 | $40.8M | No change |
| UL Unilever PLC | 0.05% | 535,011 | $31.9M | Reduce -91.8% |
| GOOG Alphabet Inc. Class C | 0.05% | 190,859 | $29.8M | Reduce -97.4% |
| TTE Totalenergies SE -Spon ADR | 0.02% | 228,358 | $14.8M | Add +110.6% |
| BANCOLOMBIA S.A.-SPONS ADR | 0.02% | 308,611 | $12.4M | No change |
| MA Mastercard Inc. Class A | 0.02% | 20,587 | $11.3M | No change |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 0.02% | 181,718 | $10.4M | Add +5.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.01% | 117,125 | $8.1M | Reduce -99.1% |
| AWK American Water Works Co. Inc. | 0.01% | 46,105 | $6.8M | Add +126.7% |
| VLO Valero Energy Corp. | 0.01% | 47,571 | $6.3M | New |
| CMS CMS Energy Corp. | 0.01% | 80,584 | $6.1M | Reduce -14.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.01% | 10,143 | $5.7M | Reduce -84.8% |
| SO The Southern Co. | 0.01% | 51,078 | $4.7M | Reduce -99.7% |
| MRK Merck & Co. Inc. | 0.01% | 50,782 | $4.6M | Reduce -12.3% |
| MFC Manulife Financial Corp. | 0.01% | 117,100 | $3.6M | Add +2.3% |
| E Eni SPA-Sponsored ADR | 0.01% | 108,566 | $3.4M | Add +1.6% |
| SAP Sap SE-Sponsored ADR | 0.00% | 10,819 | $2.9M | Reduce -96.2% |
| IWB iShares Russell 1000 ETF | 0.00% | 5,200 | $1.6M | Reduce -55.4% |
| NVDA Nvidia Corp. | 0.00% | 13,494 | $1.5M | Reduce -100.0% |
| APP AppLovin Corp. Class A | 0.00% | 4,036 | $1.1M | Reduce -100.0% |
| ACWI iShares MSCI Acwi ETF | 0.00% | 8,887 | $1.0M | Reduce -42.6% |
| WMT Walmart Inc. | 0.00% | 10,597 | $930K | Reduce -99.9% |
| NOW ServiceNow Inc. | 0.00% | 619 | $493K | New |
| NVS Novartis AG-Sponsored ADR | 0.00% | 3,456 | $385K | No change |
| AVGO Broadcom Inc. | 0.00% | 2,121 | $355K | Reduce -100.0% |
| RY Royal Bank of Canada | 0.00% | 3,059 | $345K | Reduce -100.0% |
| BCS Barclays PLC-Spons ADR | 0.00% | 17,962 | $276K | New |
| JNJ Johnson & Johnson | 0.00% | 1,631 | $270K | Reduce -0.2% |
| NGG National Grid PLC-SP ADR | 0.00% | 4,005 | $263K | Reduce -77.6% |
| AAPL Apple Inc. | 0.00% | 1,132 | $251K | Reduce -16.9% |
| GS Goldman Sachs Group Inc. | 0.00% | 420 | $230K | Reduce -91.4% |
| SNY Sanofi-ADR | 0.00% | 3,647 | $202K | New |
Portfolio Sells Q4 2024 → Q1 2025
| META Meta Platforms Inc. Class A | Reduce -74.7% | 2.16% | −5.93 |
| NVDA Nvidia Corp. | Reduce -100.0% | 0.00% | −5.12 |
| APP AppLovin Corp. Class A | Reduce -100.0% | 0.00% | −4.05 |
| AVGO Broadcom Inc. | Reduce -100.0% | 0.00% | −3.51 |
| LLY Eli Lilly & Co. | Reduce -59.7% | 2.41% | −2.79 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −2.57 |
| GOOG Alphabet Inc. Class C | Reduce -97.4% | 0.05% | −1.99 |
| SO The Southern Co. | Reduce -99.7% | 0.01% | −1.80 |
| AMZN Amazon.com Inc. | Reduce -67.2% | 0.79% | −1.79 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -99.1% | 0.01% | −1.65 |
| WMT Walmart Inc. | Reduce -99.9% | 0.00% | −1.59 |
| MSFT Microsoft Corp. | Reduce -29.2% | 2.68% | −1.28 |
| MRVL Marvell Technology Inc. | Sold out | 0.00% | −1.19 |
| SNOW Snowflake Inc. | Sold out | 0.00% | −1.11 |
| RY Royal Bank of Canada | Reduce -100.0% | 0.00% | −1.04 |
| GOOGL Alphabet Inc. Class A | Sold out | 0.00% | −0.93 |
| ISRG Intuitive Surgical Inc. | Sold out | 0.00% | −0.89 |
| AXON Axon Enterprise Inc. | Sold out | 0.00% | −0.71 |
| ABEV Ambev SA-ADR | Sold out | 0.00% | −0.54 |
| UL Unilever PLC | Reduce -91.8% | 0.05% | −0.50 |
| KKR KKR & Co. Inc. | Sold out | 0.00% | −0.48 |
| SPOT Spotify Technology SA | Reduce -54.6% | 0.71% | −0.48 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -11.4% | 1.83% | −0.46 |
| NFLX Netflix Inc. | Reduce -27.2% | 2.06% | −0.46 |
| HOOD Robinhood Markets Inc. Class A | Sold out | 0.00% | −0.45 |
| RDDT Reddit Inc. Class A | Sold out | 0.00% | −0.40 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -66.7% | 0.17% | −0.25 |
| GLOB Globant SA | Sold out | 0.00% | −0.13 |
| KO The Coca-Cola Co. | Reduce -31.8% | 0.54% | −0.10 |
| SAP Sap SE-Sponsored ADR | Reduce -96.2% | 0.00% | −0.10 |
| IMO Imperial Oil Ltd. | Sold out | 0.00% | −0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -84.8% | 0.01% | −0.05 |
| RDY Dr. Reddy's Laboratories-ADR | Sold out | 0.00% | −0.05 |
| SE Sea Ltd.-ADR | Sold out | 0.00% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -10.2% | 1.30% | −0.03 |
| V Visa Inc. Class A | Reduce -16.9% | 2.08% | −0.02 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.01 |
| STT State Street Corp. | Sold out | 0.00% | −0.01 |
| CNQ Canadian Natural Resources | Sold out | 0.00% | −0.01 |
| FTS Fortis Inc. | Sold out | 0.00% | −0.01 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.01 |
| PDD PDD Holdings Inc. | Sold out | 0.00% | −0.01 |
| TMUS T-Mobile US Inc. | Sold out | 0.00% | −0.01 |
| SLB SLB Ltd. | Sold out | 0.00% | −0.01 |
| GS Goldman Sachs Group Inc. | Reduce -91.4% | 0.00% | −0.00 |
| IWB iShares Russell 1000 ETF | Reduce -55.4% | 0.00% | −0.00 |
| CCL Carnival Corp. | Sold out | 0.00% | −0.00 |
| MRK Merck & Co. Inc. | Reduce -12.3% | 0.01% | −0.00 |
| NGG National Grid PLC-SP ADR | Reduce -77.6% | 0.00% | −0.00 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Sold out | 0.00% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| VZ Verizon Communications Inc. | Add +303.9% | 3.60% | +2.87 |
| CB Chubb Ltd. | Add +112.1% | 4.52% | +2.70 |
| AIG American International Group | Add +33315.0% | 2.62% | +2.61 |
| GE General Electric | New | 2.56% | +2.56 |
| CVX Chevron Corp. | New | 2.34% | +2.34 |
| DUK Duke Energy Corp. | Add +17880.0% | 1.99% | +1.98 |
| PGR Progressive Corp. | Add +61.4% | 3.76% | +1.92 |
| XOM Exxon Mobil Corp. | Add +15135.7% | 1.91% | +1.90 |
| T AT&T Inc. | Add +17.8% | 5.13% | +1.86 |
| MO Altria Group Inc. | Add +8146.4% | 1.79% | +1.77 |
| IBM Intl Business Machines Corp. | New | 1.66% | +1.66 |
| AEP American Electric Power | Add +30.4% | 3.42% | +1.36 |
| PBR Petroleo Brasileiro-Spon ADR | Add +8.0% | 5.85% | +1.32 |
| BMY Bristol-Myers Squibb Co. | Add +22647.6% | 1.17% | +1.16 |
| BDX Becton Dickinson and Co. | New | 1.10% | +1.10 |
| IBN Icici Bank Ltd.-Spon ADR | Add +20.6% | 3.89% | +1.04 |
| HDB HDFC Bank Ltd.-ADR | Add +105.5% | 1.71% | +0.97 |
| CME Cme Group Inc. | Add +7676.3% | 0.93% | +0.92 |
| CI The Cigna Group | Add +21.5% | 2.56% | +0.91 |
| NEE Nextera Energy Inc. | Add +58.4% | 1.95% | +0.79 |
| DB Deutsche Bank AG-Registered | New | 0.75% | +0.75 |
| ENB Enbridge Inc. | Add +1.6% | 5.32% | +0.64 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +738.6% | 0.68% | +0.61 |
| VALE Vale SA-SP ADR | New | 0.59% | +0.59 |
| TRGP Targa Resources Corp. | Add +64.0% | 1.15% | +0.57 |
| MELI MercadoLibre Inc. | Add +23.5% | 1.44% | +0.49 |
| EMBJ Embraer SA-Spon ADR | New | 0.44% | +0.44 |
| CINF Cincinnati Financial Corp. | New | 0.43% | +0.43 |
| FISV Fiserv Inc. | New | 0.42% | +0.42 |
| SHEL Shell PLC-ADR | Add +42743.3% | 0.33% | +0.33 |
| BTI British American Tob-SP ADR | Add +59.8% | 0.63% | +0.31 |
| OKE Oneok Inc. | Add +148.2% | 0.48% | +0.30 |
| CPNG Coupang Inc. | New | 0.27% | +0.27 |
| MMYT Makemytrip Ltd. | Add +273.1% | 0.31% | +0.22 |
| ALL Allstate Corp. | Add +2.1% | 1.45% | +0.22 |
| EXC Exelon Corp. | New | 0.18% | +0.18 |
| CNP Centerpoint Energy Inc. | New | 0.13% | +0.13 |
| ACGL Arch Capital Group Ltd. | New | 0.11% | +0.11 |
| NDAQ Nasdaq Inc. | New | 0.08% | +0.08 |
| JD Jd.com Inc.-ADR | Add +770.9% | 0.08% | +0.08 |
| KSPI JSC Kaspi.kz ADR | Add +8.8% | 0.26% | +0.03 |
| TTE Totalenergies SE -Spon ADR | Add +110.6% | 0.02% | +0.01 |
| VLO Valero Energy Corp. | New | 0.01% | +0.01 |
| AWK American Water Works Co. Inc. | Add +126.7% | 0.01% | +0.01 |
| HSBC HSBC Holdings PLC-Spons ADR | Add +5.1% | 0.02% | +0.00 |
| E Eni SPA-Sponsored ADR | Add +1.6% | 0.01% | +0.00 |
| NOW ServiceNow Inc. | New | 0.00% | +0.00 |
| MFC Manulife Financial Corp. | Add +2.3% | 0.01% | +0.00 |
| BCS Barclays PLC-Spons ADR | New | 0.00% | +0.00 |
| SNY Sanofi-ADR | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 102 | $53.8B | PM, CB, PBR, ENB, XOM |
| Q1 2026 | 81 | $63.1B | PM, ENB, CB, PBR, T |
| Q4 2025 | 87 | $60.7B | PM, CB, ENB, PGR, IBN |
| Q3 2025 | 93 | $65.1B | PM, ENB, CB, T, PBR |
| Q2 2025 | 93 | $70.3B | PM, ENB, T, CB, PBR |
| Q1 2025 | 86 | $62.8B | PM, PBR, ENB, T, CB |
| Q4 2024 | 92 | $67.4B | PM, META, LLY, NVDA, ENB |
| Q3 2024 | 78 | $63.8B | META, PM, LLY, PBR, ENB |
| Q2 2024 | 79 | $66.0B | NVDA, META, AVGO, PM, LLY |
| Q1 2024 | 86 | $62.2B | NVDA, META, AVGO, MSFT, LLY |