GQG Partners LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), GQG Partners LLC reported 93 stock positions worth $65.1 billion. Its top holding was Philip Morris International (PM) at 13.7% of the portfolio, followed by Enbridge (ENB, 6.5%) and Chubb (CB, 4.7%). Compared with Q2 2025, it opened 10 new positions, sold out of 10, added to 18 and reduced 61. The biggest buy was Johnson & Johnson (JNJ, shares +12137%) and the biggest sale Netflix (NFLX, shares −100%).

Most Recent 13F
Q2 2026
Location
FT. LAUDERDALE, FL
CIK
0001697233
Portfolio Value
$65.1B (Q3 2025)
SEC Filing
0001062993-25-016752 ↗ filed Nov 13, 2025

Holdings Value

0$20.0B$40.0B$60.0B$80.0B Q1 2024: $62.2B Q1 2024 Q2 2024: $66.0B Q2 2024 Q3 2024: $63.8B Q3 2024 Q4 2024: $67.4B Q4 2024 Q1 2025: $62.8B Q1 2025 Q2 2025: $70.3B Q2 2025 Q3 2025: $65.1B $65.1B Q3 2025 Q4 2025: $60.7B Q4 2025 Q1 2026: $63.1B Q1 2026 Q2 2026: $53.8B Q2 2026

Holdings 93 stocks · $65.1B
PM Philip Morris International 13.70% 54,981,850 $8.9B Add +6.3%
ENB Enbridge Inc. 6.48% 83,561,980 $4.2B Add +10.4%
CB Chubb Ltd. 4.70% 10,833,447 $3.1B Add +10.3%
T AT&T Inc. 4.63% 106,785,361 $3.0B Reduce -7.0%
PBR Petroleo Brasileiro-Spon ADR 4.12% 211,951,626 $2.7B Reduce -4.3%
VZ Verizon Communications Inc. 3.58% 52,990,825 $2.3B Reduce -0.5%
PGR Progressive Corp. 3.54% 9,340,398 $2.3B Add +9.4%
IBN Icici Bank Ltd.-Spon ADR 3.51% 75,632,025 $2.3B Reduce -1.0%
AEP American Electric Power 3.27% 18,908,983 $2.1B Reduce -5.6%
CI The Cigna Group 3.01% 6,790,993 $2.0B Add +17.7%
HDB HDFC Bank Ltd.-ADR 2.74% 52,184,732 $1.8B Add +4.6%
MO Altria Group Inc. 2.61% 25,744,009 $1.7B Reduce -10.7%
BTI British American Tob-SP ADR 2.33% 28,554,869 $1.5B Add +20.6%
KO The Coca-Cola Co. 2.32% 22,801,287 $1.5B Reduce -8.1%
META Meta Platforms Inc. Class A 2.27% 2,009,594 $1.5B Reduce -7.3%
AIG American International Group 2.23% 18,464,036 $1.5B Reduce -6.3%
XOM Exxon Mobil Corp. 2.04% 11,794,367 $1.3B Reduce -0.7%
DUK Duke Energy Corp. 1.96% 10,327,052 $1.3B Reduce -4.9%
CME Cme Group Inc. 1.88% 4,523,652 $1.2B Add +26.6%
EXC Exelon Corp. 1.87% 26,995,275 $1.2B Reduce -2.4%
JNJ Johnson & Johnson 1.72% 6,037,579 $1.1B Add +12137.4%
MSFT Microsoft Corp. 1.70% 2,135,844 $1.1B Reduce -37.4%
XEL Xcel Energy Inc. 1.62% 13,073,681 $1.1B Add +4.6%
TSM Taiwan Semiconductor-SP ADR 1.50% 3,495,800 $976.3M Reduce -38.3%
CL Colgate-Palmolive Co. 1.40% 11,365,410 $908.6M Reduce -20.1%
V Visa Inc. Class A 1.37% 2,619,780 $894.4M Reduce -13.5%
ALL Allstate Corp. 1.33% 4,035,567 $866.2M Reduce -6.4%
KR Kroger Co. 1.25% 12,037,126 $811.4M Reduce -2.5%
NEE Nextera Energy Inc. 1.22% 10,502,243 $792.8M Reduce -23.6%
MELI MercadoLibre Inc. 1.19% 332,296 $776.6M Reduce -25.2%
DB Deutsche Bank AG-Registered 1.08% 20,063,955 $706.1M Reduce -9.2%
ITUB Itau Unibanco H-Spon PRF ADR 1.03% 91,221,709 $669.6M Reduce -0.4%
DTE DTE Energy Company 0.95% 4,359,398 $616.6M Reduce -17.1%
AWK American Water Works Co. Inc. 0.85% 3,953,478 $550.3M Add +168.4%
UL Unilever PLC 0.85% 9,280,226 $550.1M Reduce -7.1%
VALE Vale SA-SP ADR 0.76% 45,735,176 $496.7M Reduce -1.0%
EMBJ Embraer SA-Spon ADR 0.75% 8,073,775 $488.1M Reduce -0.4%
CMS CMS Energy Corp. 0.61% 5,421,659 $397.2M Reduce -1.3%
FNV Franco-Nevada Corp. 0.59% 1,716,000 $382.0M New
ABEV Ambev SA-ADR 0.54% 158,500,692 $353.5M Add +5.1%
INFY Infosys Ltd.-SP ADR 0.54% 21,547,039 $350.6M New
PG The Procter & Gamble Co. 0.49% 2,064,356 $317.2M Reduce -56.8%
CINF Cincinnati Financial Corp. 0.45% 1,862,717 $294.5M Reduce -12.6%
NVS Novartis AG-Sponsored ADR 0.45% 2,262,867 $290.2M Add +3518.6%
BAP Credicorp Ltd. 0.39% 955,028 $254.3M Reduce -2.4%
CNP Centerpoint Energy Inc. 0.37% 6,270,390 $243.3M Reduce -12.4%
CVX Chevron Corp. 0.36% 1,490,710 $231.5M Add +1898.8%
PPL PPL Corp. 0.29% 5,121,294 $190.3M Reduce -11.7%
TRP TC Energy Corp. 0.20% 2,353,098 $128.0M New
DEO Diageo PLC-Sponsored ADR 0.20% 1,334,402 $127.3M New
ATO Atmos Energy Corp. 0.19% 719,556 $122.9M Reduce -12.9%
ICE Intercontinental Exchange Inc. 0.17% 659,877 $111.2M New
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.14% 1,107,143 $90.4M Reduce -25.0%
GGAL Grupo Financiero Galicia-ADR 0.13% 3,124,144 $86.1M Reduce -0.1%
ACGL Arch Capital Group Ltd. 0.12% 865,941 $78.6M Add +0.2%
FLUT Flutter Entertainment PLC-Di 0.11% 281,210 $71.4M New
SLDE Slide Insurance Holdings Inc. 0.07% 2,989,964 $47.2M Reduce -40.4%
ETOR Etoro Group Ltd. Class A 0.05% 842,502 $34.8M Reduce -3.4%
CIB Grupo Cibest SA-ADR 0.04% 505,743 $26.3M Reduce -72.1%
TTE Totalenergies SE -Spon ADR 0.02% 260,611 $15.6M Reduce -5.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.02% 17,336 $11.6M Reduce -9.6%
ASR Grupo Aeroportuario Sur-ADR 0.01% 30,236 $9.8M New
AZN Astrazeneca PLC-Spons ADR 0.01% 87,964 $6.7M Reduce -58.0%
VLO Valero Energy Corp. 0.01% 33,766 $5.7M Reduce -5.5%
SO The Southern Co. 0.01% 54,413 $5.2M Reduce -7.0%
E Eni SPA-Sponsored ADR 0.01% 141,300 $4.9M Add +6.9%
HII Huntington Ingalls Industrie 0.01% 16,227 $4.7M Reduce -4.6%
MRK Merck & Co. Inc. 0.01% 53,099 $4.5M Reduce -6.8%
USB US Bancorp 0.01% 85,600 $4.1M Reduce -4.0%
SNY Sanofi-ADR 0.01% 85,750 $4.0M New
PFE Pfizer Inc. 0.00% 97,656 $2.5M New
ACWI iShares MSCI Acwi ETF 0.00% 16,290 $2.3M Add +186.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.00% 42,818 $2.2M New
APP AppLovin Corp. Class A 0.00% 2,663 $1.9M Reduce -3.3%
IWB iShares Russell 1000 ETF 0.00% 3,879 $1.4M Add +9.1%
NVDA Nvidia Corp. 0.00% 6,501 $1.2M Reduce -98.4%
AMZN Amazon.com Inc. 0.00% 4,857 $1.1M Reduce -99.6%
GLD SPDR Gold Shares 0.00% 1,908 $678K No change
WMT Walmart Inc. 0.00% 6,526 $673K Reduce -18.4%
GOOG Alphabet Inc. Class C 0.00% 2,573 $627K Reduce -8.8%
LLY Eli Lilly & Co. 0.00% 802 $612K Reduce -99.7%
NFLX Netflix Inc. 0.00% 501 $601K Reduce -100.0%
SHEL Shell PLC-ADR 0.00% 8,380 $599K Reduce -10.7%
HSBC HSBC Holdings PLC-Spons ADR filed as HSBC HLDGS PLC 0.00% 7,225 $513K No change
SAP Sap SE-Sponsored ADR 0.00% 1,807 $483K Reduce -75.1%
RY Royal Bank of Canada 0.00% 3,059 $451K No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.00% 1,448 $446K Reduce -48.6%
NOW ServiceNow Inc. 0.00% 479 $441K Reduce -2.8%
AVGO Broadcom Inc. 0.00% 940 $310K Reduce -14.6%
NGG National Grid PLC-SP ADR 0.00% 4,005 $291K No change
GS Goldman Sachs Group Inc. 0.00% 326 $260K Reduce -15.3%
AAPL Apple Inc. 0.00% 906 $231K Reduce -18.7%
AXIAY Axia Energia-ADR filed as CENTRAIS ELETRICAS BRASILEIR 0.00% 18,436 $183K Reduce -12.6%

Portfolio Sells Q2 2025 → Q3 2025
NFLX Netflix Inc. Reduce -100.0% 0.00% −2.82
IBM Intl Business Machines Corp. Sold out 0.00% −1.97
ELV Elevance Health Inc. Sold out 0.00% −0.81
MSFT Microsoft Corp. Reduce -37.4% 1.70% −0.72
PG The Procter & Gamble Co. Reduce -56.8% 0.49% −0.59
FMX Fomento Economico Mex-SP ADR Sold out 0.00% −0.55
MCK McKesson Corp. Sold out 0.00% −0.51
MELI MercadoLibre Inc. Reduce -25.2% 1.19% −0.46
CL Colgate-Palmolive Co. Reduce -20.1% 1.40% −0.44
UNH Unitedhealth Group Inc. Sold out 0.00% −0.40
AMZN Amazon.com Inc. Reduce -99.6% 0.00% −0.36
TSM Taiwan Semiconductor-SP ADR Reduce -38.3% 1.50% −0.33
LLY Eli Lilly & Co. Reduce -99.7% 0.00% −0.30
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.20
KO The Coca-Cola Co. Reduce -8.1% 2.32% −0.17
AIG American International Group Reduce -6.3% 2.23% −0.17
V Visa Inc. Class A Reduce -13.5% 1.37% −0.16
IBN Icici Bank Ltd.-Spon ADR Reduce -1.0% 3.51% −0.15
NEE Nextera Energy Inc. Reduce -23.6% 1.22% −0.14
T AT&T Inc. Reduce -7.0% 4.63% −0.10
GGAL Grupo Financiero Galicia-ADR Reduce -0.1% 0.13% −0.09
NVDA Nvidia Corp. Reduce -98.4% 0.00% −0.09
SPOT Spotify Technology SA Sold out 0.00% −0.08
SLDE Slide Insurance Holdings Inc. Reduce -40.4% 0.07% −0.08
CIB Grupo Cibest SA-ADR Reduce -72.1% 0.04% −0.08
ARM Arm Holdings PLC-ADR Sold out 0.00% −0.06
DTE DTE Energy Company Reduce -17.1% 0.95% −0.04
KSPI JSC Kaspi.kz ADR Reduce -25.0% 0.14% −0.04
ETOR Etoro Group Ltd. Class A Reduce -3.4% 0.05% −0.03
UL Unilever PLC Reduce -7.1% 0.85% −0.02
KR Kroger Co. Reduce -2.5% 1.25% −0.01
AZN Astrazeneca PLC-Spons ADR Reduce -58.0% 0.01% −0.01
META Meta Platforms Inc. Class A Reduce -7.3% 2.27% −0.01
SAP Sap SE-Sponsored ADR Reduce -75.1% 0.00% −0.00
CNP Centerpoint Energy Inc. Reduce -12.4% 0.37% −0.00
NVO Novo-Nordisk A/S-Spons ADR Sold out 0.00% −0.00
BCS Barclays PLC-Spons ADR Sold out 0.00% −0.00
VV Vngrd Mrgstr LRG-Cap ETF-Usd Reduce -48.6% 0.00% −0.00
TTE Totalenergies SE -Spon ADR Reduce -5.1% 0.02% −0.00
WMT Walmart Inc. Reduce -18.4% 0.00% −0.00
AAPL Apple Inc. Reduce -18.7% 0.00% 0.00
AVGO Broadcom Inc. Reduce -14.6% 0.00% 0.00
GS Goldman Sachs Group Inc. Reduce -15.3% 0.00% 0.00
SHEL Shell PLC-ADR Reduce -10.7% 0.00% 0.00
NOW ServiceNow Inc. Reduce -2.8% 0.00% 0.00
AXIAY Axia Energia-ADR Reduce -12.6% 0.00% +0.00
GOOG Alphabet Inc. Class C Reduce -8.8% 0.00% +0.00
SO The Southern Co. Reduce -7.0% 0.01% +0.00
MRK Merck & Co. Inc. Reduce -6.8% 0.01% +0.00
CINF Cincinnati Financial Corp. Reduce -12.6% 0.45% +0.00

Portfolio Buys Q2 2025 → Q3 2025
JNJ Johnson & Johnson Add +12137.4% 1.72% +1.71
ENB Enbridge Inc. Add +10.4% 6.48% +1.61
BTI British American Tob-SP ADR Add +20.6% 2.33% +0.73
CB Chubb Ltd. Add +10.3% 4.70% +0.65
FNV Franco-Nevada Corp. New 0.59% +0.59
AWK American Water Works Co. Inc. Add +168.4% 0.85% +0.55
INFY Infosys Ltd.-SP ADR New 0.54% +0.54
CME Cme Group Inc. Add +26.6% 1.88% +0.48
NVS Novartis AG-Sponsored ADR Add +3518.6% 0.45% +0.44
XEL Xcel Energy Inc. Add +4.6% 1.62% +0.41
CVX Chevron Corp. Add +1898.8% 0.36% +0.34
PM Philip Morris International Add +6.3% 13.70% +0.30
PGR Progressive Corp. Add +9.4% 3.54% +0.30
CI The Cigna Group Add +17.7% 3.01% +0.29
TRP TC Energy Corp. New 0.20% +0.20
DEO Diageo PLC-Sponsored ADR New 0.20% +0.20
ICE Intercontinental Exchange Inc. New 0.17% +0.17
FLUT Flutter Entertainment PLC-Di New 0.11% +0.11
ABEV Ambev SA-ADR Add +5.1% 0.54% +0.03
HDB HDFC Bank Ltd.-ADR Add +4.6% 2.74% +0.02
ASR Grupo Aeroportuario Sur-ADR New 0.01% +0.01
ACGL Arch Capital Group Ltd. Add +0.2% 0.12% +0.01
SNY Sanofi-ADR New 0.01% +0.01
PFE Pfizer Inc. New 0.00% +0.00
BAC Bank of America Corp. New 0.00% +0.00
ACWI iShares MSCI Acwi ETF Add +186.1% 0.00% +0.00
E Eni SPA-Sponsored ADR Add +6.9% 0.01% +0.00
IWB iShares Russell 1000 ETF Add +9.1% 0.00% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 102$53.8BPM, CB, PBR, ENB, XOM
Q1 2026 81$63.1BPM, ENB, CB, PBR, T
Q4 2025 87$60.7BPM, CB, ENB, PGR, IBN
Q3 2025 93$65.1BPM, ENB, CB, T, PBR
Q2 2025 93$70.3BPM, ENB, T, CB, PBR
Q1 2025 86$62.8BPM, PBR, ENB, T, CB
Q4 2024 92$67.4BPM, META, LLY, NVDA, ENB
Q3 2024 78$63.8BMETA, PM, LLY, PBR, ENB
Q2 2024 79$66.0BNVDA, META, AVGO, PM, LLY
Q1 2024 86$62.2BNVDA, META, AVGO, MSFT, LLY