GQG Partners LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), GQG Partners LLC reported 93 stock positions worth $70.3 billion. Its top holding was Philip Morris International (PM) at 13.4% of the portfolio, followed by Enbridge (ENB, 4.9%) and AT&T (T, 4.7%). Compared with Q1 2025, it opened 19 new positions, sold out of 12, added to 40 and reduced 31. The biggest buy was Coca-Cola (KO, shares +420%) and the biggest sale an exit from General Electric (GE).
- Most Recent 13F
- Q2 2026
- Location
- FT. LAUDERDALE, FL
- CIK
- 0001697233
- Portfolio Value
- $70.3B (Q2 2025)
- SEC Filing
- 0001062993-25-014256 ↗ filed Aug 13, 2025
Holdings Value
Holdings 93 stocks · $70.3B
| PM Philip Morris International | 13.40% | 51,697,845 | $9.4B | Add +6.6% |
| ENB Enbridge Inc. | 4.87% | 75,670,355 | $3.4B | Add +0.3% |
| T AT&T Inc. | 4.73% | 114,838,596 | $3.3B | Add +0.8% |
| CB Chubb Ltd. | 4.05% | 9,818,992 | $2.8B | Add +4.5% |
| PBR Petroleo Brasileiro-Spon ADR | 3.94% | 221,361,832 | $2.8B | Reduce -13.6% |
| IBN Icici Bank Ltd.-Spon ADR | 3.66% | 76,424,854 | $2.6B | Reduce -1.3% |
| VZ Verizon Communications Inc. | 3.28% | 53,259,219 | $2.3B | Add +6.8% |
| PGR Progressive Corp. | 3.24% | 8,537,667 | $2.3B | Add +2.3% |
| AEP American Electric Power | 2.96% | 20,033,905 | $2.1B | Add +2.0% |
| NFLX Netflix Inc. | 2.82% | 1,478,802 | $2.0B | Add +6.6% |
| HDB HDFC Bank Ltd.-ADR | 2.72% | 24,950,464 | $1.9B | Add +54.0% |
| CI The Cigna Group | 2.71% | 5,769,691 | $1.9B | Add +18.1% |
| KO The Coca-Cola Co. | 2.50% | 24,803,670 | $1.8B | Add +420.0% |
| MSFT Microsoft Corp. | 2.42% | 3,413,088 | $1.7B | Reduce -23.9% |
| MO Altria Group Inc. | 2.41% | 28,840,552 | $1.7B | Add +54.2% |
| AIG American International Group | 2.40% | 19,695,127 | $1.7B | Add +4.2% |
| META Meta Platforms Inc. Class A | 2.28% | 2,166,860 | $1.6B | Reduce -8.1% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 1.97% | 4,692,192 | $1.4B | Add +12.2% |
| CL Colgate-Palmolive Co. | 1.84% | 14,227,128 | $1.3B | Add +231.1% |
| TSM Taiwan Semiconductor-SP ADR | 1.83% | 5,666,917 | $1.3B | Reduce -18.2% |
| DUK Duke Energy Corp. | 1.82% | 10,856,444 | $1.3B | Add +5.9% |
| XOM Exxon Mobil Corp. | 1.82% | 11,880,964 | $1.3B | Add +18.0% |
| EXC Exelon Corp. | 1.71% | 27,661,962 | $1.2B | Add +1029.7% |
| MELI MercadoLibre Inc. | 1.65% | 444,254 | $1.2B | Reduce -3.8% |
| BTI British American Tob-SP ADR | 1.59% | 23,681,843 | $1.1B | Add +146.7% |
| V Visa Inc. Class A | 1.53% | 3,029,600 | $1.1B | Reduce -18.8% |
| CME Cme Group Inc. | 1.40% | 3,573,688 | $985.0M | Add +62.1% |
| NEE Nextera Energy Inc. | 1.36% | 13,737,335 | $953.6M | Reduce -20.3% |
| KR Kroger Co. | 1.26% | 12,346,124 | $885.6M | New |
| ALL Allstate Corp. | 1.24% | 4,311,336 | $867.9M | Reduce -2.1% |
| XEL Xcel Energy Inc. | 1.21% | 12,501,554 | $851.4M | New |
| PG The Procter & Gamble Co. | 1.08% | 4,772,791 | $760.4M | Reduce -0.2% |
| DTE DTE Energy Company | 0.99% | 5,260,699 | $696.8M | New |
| DB Deutsche Bank AG-Registered | 0.93% | 22,084,254 | $652.5M | Add +10.6% |
| ITUB Itau Unibanco H-Spon PRF ADR | 0.89% | 91,595,734 | $621.9M | Add +17.8% |
| UL Unilever PLC | 0.87% | 9,987,192 | $610.9M | Add +1766.7% |
| ELV Elevance Health Inc. | 0.81% | 1,463,610 | $569.3M | New |
| EMBJ Embraer SA-Spon ADR | 0.66% | 8,109,702 | $461.5M | Add +35.6% |
| VALE Vale SA-SP ADR | 0.64% | 46,206,510 | $448.7M | Add +24.0% |
| FMX Fomento Economico Mex-SP ADR | 0.55% | 3,759,941 | $387.2M | New |
| CMS CMS Energy Corp. | 0.54% | 5,492,088 | $380.5M | Add +6715.4% |
| ABEV Ambev SA-ADR | 0.52% | 150,859,260 | $363.6M | New |
| MCK McKesson Corp. | 0.51% | 490,526 | $359.5M | New |
| CINF Cincinnati Financial Corp. | 0.45% | 2,132,215 | $317.5M | Add +16.6% |
| UNH Unitedhealth Group Inc. | 0.40% | 910,560 | $284.1M | New |
| CNP Centerpoint Energy Inc. | 0.37% | 7,161,878 | $263.1M | Add +230.0% |
| AMZN Amazon.com Inc. | 0.36% | 1,144,844 | $251.2M | Reduce -55.9% |
| BAP Credicorp Ltd. | 0.31% | 978,934 | $218.8M | Add +346.6% |
| LLY Eli Lilly & Co. | 0.30% | 272,594 | $212.5M | Reduce -85.1% |
| AWK American Water Works Co. Inc. | 0.29% | 1,473,120 | $204.9M | Add +3095.1% |
| PPL PPL Corp. | 0.28% | 5,801,981 | $196.6M | New |
| GGAL Grupo Financiero Galicia-ADR | 0.22% | 3,127,768 | $157.6M | New |
| BMY Bristol-Myers Squibb Co. | 0.20% | 3,025,192 | $140.0M | Reduce -74.8% |
| ATO Atmos Energy Corp. | 0.18% | 826,019 | $127.3M | New |
| KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC | 0.18% | 1,476,651 | $125.4M | Reduce -14.7% |
| SLDE Slide Insurance Holdings Inc. | 0.15% | 5,016,166 | $108.7M | New |
| CIB Grupo Cibest SA-ADR | 0.12% | 1,815,250 | $83.8M | Add +488.2% |
| ACGL Arch Capital Group Ltd. | 0.11% | 864,345 | $78.7M | Add +15.8% |
| NVDA Nvidia Corp. | 0.09% | 397,145 | $62.7M | Add +2843.1% |
| SPOT Spotify Technology SA | 0.08% | 75,839 | $58.2M | Reduce -90.7% |
| ETOR Etoro Group Ltd. Class A | 0.08% | 871,976 | $58.1M | New |
| ARM Arm Holdings PLC-ADR | 0.06% | 273,048 | $44.2M | New |
| TTE Totalenergies SE -Spon ADR | 0.02% | 274,576 | $16.9M | Add +20.2% |
| AZN Astrazeneca PLC-Spons ADR | 0.02% | 209,268 | $14.6M | Reduce -85.6% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.02% | 19,184 | $11.9M | Add +89.1% |
| CVX Chevron Corp. | 0.02% | 74,580 | $10.7M | Reduce -99.2% |
| NVS Novartis AG-Sponsored ADR | 0.01% | 62,535 | $7.6M | Add +1709.5% |
| JNJ Johnson & Johnson | 0.01% | 49,337 | $7.5M | Add +2924.9% |
| SO The Southern Co. | 0.01% | 58,539 | $5.4M | Add +14.6% |
| VLO Valero Energy Corp. | 0.01% | 35,722 | $4.8M | Reduce -24.9% |
| MRK Merck & Co. Inc. | 0.01% | 56,995 | $4.5M | Add +12.2% |
| E Eni SPA-Sponsored ADR | 0.01% | 132,222 | $4.3M | Add +21.8% |
| HII Huntington Ingalls Industrie | 0.01% | 17,007 | $4.1M | New |
| USB US Bancorp | 0.01% | 89,165 | $4.0M | New |
| SAP Sap SE-Sponsored ADR | 0.00% | 7,247 | $2.2M | Reduce -33.0% |
| IWB iShares Russell 1000 ETF | 0.00% | 3,556 | $1.2M | Reduce -31.6% |
| APP AppLovin Corp. Class A | 0.00% | 2,755 | $964K | Reduce -31.7% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.00% | 2,817 | $804K | New |
| WMT Walmart Inc. | 0.00% | 7,998 | $782K | Reduce -24.5% |
| ACWI iShares MSCI Acwi ETF | 0.00% | 5,694 | $732K | Reduce -35.9% |
| SHEL Shell PLC-ADR | 0.00% | 9,380 | $660K | Reduce -99.7% |
| GLD SPDR Gold Shares | 0.00% | 1,908 | $582K | New |
| NOW ServiceNow Inc. | 0.00% | 493 | $507K | Reduce -20.4% |
| GOOG Alphabet Inc. Class C | 0.00% | 2,822 | $501K | Reduce -98.5% |
| HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC | 0.00% | 7,225 | $439K | Reduce -96.0% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.00% | 5,923 | $409K | Reduce -94.9% |
| RY Royal Bank of Canada | 0.00% | 3,059 | $402K | No change |
| BCS Barclays PLC-Spons ADR | 0.00% | 17,962 | $334K | No change |
| AVGO Broadcom Inc. | 0.00% | 1,101 | $304K | Reduce -48.1% |
| NGG National Grid PLC-SP ADR | 0.00% | 4,005 | $298K | No change |
| GS Goldman Sachs Group Inc. | 0.00% | 385 | $273K | Reduce -8.3% |
| AAPL Apple Inc. | 0.00% | 1,114 | $229K | Reduce -1.6% |
| AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR | 0.00% | 21,089 | $157K | New |
Portfolio Sells Q1 2025 → Q2 2025
| GE General Electric | Sold out | 0.00% | −2.56 |
| CVX Chevron Corp. | Reduce -99.2% | 0.02% | −2.32 |
| LLY Eli Lilly & Co. | Reduce -85.1% | 0.30% | −2.10 |
| PBR Petroleo Brasileiro-Spon ADR | Reduce -13.6% | 3.94% | −1.91 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −1.15 |
| BDX Becton Dickinson and Co. | Sold out | 0.00% | −1.10 |
| BMY Bristol-Myers Squibb Co. | Reduce -74.8% | 0.20% | −0.97 |
| SPOT Spotify Technology SA | Reduce -90.7% | 0.08% | −0.63 |
| NEE Nextera Energy Inc. | Reduce -20.3% | 1.36% | −0.59 |
| V Visa Inc. Class A | Reduce -18.8% | 1.53% | −0.55 |
| OKE Oneok Inc. | Sold out | 0.00% | −0.48 |
| AMZN Amazon.com Inc. | Reduce -55.9% | 0.36% | −0.43 |
| FISV Fiserv Inc. | Sold out | 0.00% | −0.42 |
| SHEL Shell PLC-ADR | Reduce -99.7% | 0.00% | −0.33 |
| MMYT Makemytrip Ltd. | Sold out | 0.00% | −0.31 |
| MSFT Microsoft Corp. | Reduce -23.9% | 2.42% | −0.27 |
| CPNG Coupang Inc. | Sold out | 0.00% | −0.27 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -1.3% | 3.66% | −0.23 |
| ALL Allstate Corp. | Reduce -2.1% | 1.24% | −0.22 |
| PG The Procter & Gamble Co. | Reduce -0.2% | 1.08% | −0.22 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -85.6% | 0.02% | −0.15 |
| JD Jd.com Inc.-ADR | Sold out | 0.00% | −0.08 |
| NDAQ Nasdaq Inc. | Sold out | 0.00% | −0.08 |
| KSPI JSC Kaspi.kz ADR | Reduce -14.7% | 0.18% | −0.08 |
| GOOG Alphabet Inc. Class C | Reduce -98.5% | 0.00% | −0.05 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −0.02 |
| HSBC HSBC Holdings PLC-Spons ADR | Reduce -96.0% | 0.00% | −0.02 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -94.9% | 0.00% | −0.01 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -18.2% | 1.83% | −0.01 |
| MFC Manulife Financial Corp. | Sold out | 0.00% | −0.01 |
| VLO Valero Energy Corp. | Reduce -24.9% | 0.01% | −0.00 |
| SAP Sap SE-Sponsored ADR | Reduce -33.0% | 0.00% | −0.00 |
| IWB iShares Russell 1000 ETF | Reduce -31.6% | 0.00% | −0.00 |
| ACWI iShares MSCI Acwi ETF | Reduce -35.9% | 0.00% | −0.00 |
| WMT Walmart Inc. | Reduce -24.5% | 0.00% | −0.00 |
| APP AppLovin Corp. Class A | Reduce -31.7% | 0.00% | −0.00 |
| SNY Sanofi-ADR | Sold out | 0.00% | −0.00 |
| AAPL Apple Inc. | Reduce -1.6% | 0.00% | −0.00 |
| AVGO Broadcom Inc. | Reduce -48.1% | 0.00% | −0.00 |
| NOW ServiceNow Inc. | Reduce -20.4% | 0.00% | −0.00 |
| GS Goldman Sachs Group Inc. | Reduce -8.3% | 0.00% | 0.00 |
| META Meta Platforms Inc. Class A | Reduce -8.1% | 2.28% | +0.11 |
| MELI MercadoLibre Inc. | Reduce -3.8% | 1.65% | +0.22 |
Portfolio Buys Q1 2025 → Q2 2025
| KO The Coca-Cola Co. | Add +420.0% | 2.50% | +1.95 |
| EXC Exelon Corp. | Add +1029.7% | 1.71% | +1.53 |
| KR Kroger Co. | New | 1.26% | +1.26 |
| XEL Xcel Energy Inc. | New | 1.21% | +1.21 |
| CL Colgate-Palmolive Co. | Add +231.1% | 1.84% | +1.20 |
| PM Philip Morris International | Add +6.6% | 13.40% | +1.13 |
| HDB HDFC Bank Ltd.-ADR | Add +54.0% | 2.72% | +1.01 |
| DTE DTE Energy Company | New | 0.99% | +0.99 |
| BTI British American Tob-SP ADR | Add +146.7% | 1.59% | +0.96 |
| UL Unilever PLC | Add +1766.7% | 0.87% | +0.82 |
| ELV Elevance Health Inc. | New | 0.81% | +0.81 |
| NFLX Netflix Inc. | Add +6.6% | 2.82% | +0.76 |
| MO Altria Group Inc. | Add +54.2% | 2.41% | +0.62 |
| FMX Fomento Economico Mex-SP ADR | New | 0.55% | +0.55 |
| CMS CMS Energy Corp. | Add +6715.4% | 0.54% | +0.53 |
| ABEV Ambev SA-ADR | New | 0.52% | +0.52 |
| MCK McKesson Corp. | New | 0.51% | +0.51 |
| CME Cme Group Inc. | Add +62.1% | 1.40% | +0.47 |
| UNH Unitedhealth Group Inc. | New | 0.40% | +0.40 |
| IBM Intl Business Machines Corp. | Add +12.2% | 1.97% | +0.31 |
| AWK American Water Works Co. Inc. | Add +3095.1% | 0.29% | +0.28 |
| PPL PPL Corp. | New | 0.28% | +0.28 |
| CNP Centerpoint Energy Inc. | Add +230.0% | 0.37% | +0.25 |
| BAP Credicorp Ltd. | Add +346.6% | 0.31% | +0.25 |
| GGAL Grupo Financiero Galicia-ADR | New | 0.22% | +0.22 |
| EMBJ Embraer SA-Spon ADR | Add +35.6% | 0.66% | +0.22 |
| ITUB Itau Unibanco H-Spon PRF ADR | Add +17.8% | 0.89% | +0.20 |
| ATO Atmos Energy Corp. | New | 0.18% | +0.18 |
| DB Deutsche Bank AG-Registered | Add +10.6% | 0.93% | +0.18 |
| SLDE Slide Insurance Holdings Inc. | New | 0.15% | +0.15 |
| CI The Cigna Group | Add +18.1% | 2.71% | +0.15 |
| CIB Grupo Cibest SA-ADR | Add +488.2% | 0.12% | +0.10 |
| NVDA Nvidia Corp. | Add +2843.1% | 0.09% | +0.09 |
| ETOR Etoro Group Ltd. Class A | New | 0.08% | +0.08 |
| ARM Arm Holdings PLC-ADR | New | 0.06% | +0.06 |
| VALE Vale SA-SP ADR | Add +24.0% | 0.64% | +0.05 |
| CINF Cincinnati Financial Corp. | Add +16.6% | 0.45% | +0.02 |
| JNJ Johnson & Johnson | Add +2924.9% | 0.01% | +0.01 |
| NVS Novartis AG-Sponsored ADR | Add +1709.5% | 0.01% | +0.01 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +89.1% | 0.02% | +0.01 |
| HII Huntington Ingalls Industrie | New | 0.01% | +0.01 |
| USB US Bancorp | New | 0.01% | +0.01 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | New | 0.00% | +0.00 |
| GLD SPDR Gold Shares | New | 0.00% | +0.00 |
| E Eni SPA-Sponsored ADR | Add +21.8% | 0.01% | +0.00 |
| TTE Totalenergies SE -Spon ADR | Add +20.2% | 0.02% | +0.00 |
| AXIAY Axia Energia-ADR | New | 0.00% | +0.00 |
| SO The Southern Co. | Add +14.6% | 0.01% | +0.00 |
| MRK Merck & Co. Inc. | Add +12.2% | 0.01% | −0.00 |
| ACGL Arch Capital Group Ltd. | Add +15.8% | 0.11% | −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 |