Orbis Allan Gray Ltd
Net buyer this quarter
$29.1B
96
+$2.75B
39.9%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 CPAY | $1.8B | 6.19% | 8.24% | +1.2% | Q1 2024 |
 NBIS | $1.79B | 6.16% | 2.57% | -21.9% | Q1 2016 |
 BKNG | $1.28B | 4.41% | 0.93% | +289.9% | Q1 2018 |
 QXO | $1.28B | 4.39% | 10.19% | Not reported | Q3 2024 |
 BRKR | $1.08B | 3.71% | 11.78% | Not reported | Q2 2025 |
 RXO | $1B | 3.45% | 22.07% | Not reported | Q4 2022 |
 MSI | $992M | 3.41% | 1.44% | +27.8% | Q1 2016 |
 GOOGL | $836M | 2.87% | 0.02% | -6.9% | Q1 2016 |
 EQT | $835M | 2.87% | 2.51% | +29.7% | Q4 2025 |
 XPO | $699M | 2.40% | 2.91% | -0.2% | Q1 2016 |
 SHEL | $686M | 2.36% | 0.16% | +115.1% | Q1 2022 |
 GXO | $681M | 2.34% | 11.70% | Not reported | Q3 2021 |
 ITUB | $664M | 2.28% | 1.45% | +17.4% | Q1 2016 |
 INSM | $648M | 2.23% | 2.78% | +224.5% | Q2 2025 |
 ALNY | $598M | 2.06% | 1.49% | +48.9% | Q3 2023 |
 FSV | $575M | 1.98% | 8.85% | +1.9% | Q3 2023 |
 STE | $564M | 1.94% | 2.75% | +3.3% | Q1 2025 |
 IBKR | $528M | 1.82% | 2.37% | -0.8% | Q4 2021 |
 NEM | $518M | 1.78% | 0.52% | +7.2% | Q1 2016 |
 PRAX | $512M | 1.76% | 5.48% | -38.1% | Q4 2025 |
 NVDA | $490M | 1.69% | 0.01% | +17.3% | Q1 2026 |
 CNK | $478M | 1.64% | 12.50% | Not reported | Q3 2021 |
 BTI | $456M | 1.57% | 0.32% | -4.2% | Q1 2016 |
 NTES | $449M | 1.54% | 0.11% | -2.3% | Q1 2016 |
 PDD | $408M | 1.40% | 0.09% | +207.0% | Q4 2024 |
 DEO | $384M | 1.32% | 0.20% | +29.1% | Q3 2020 |
 KMI | $377M | 1.30% | 0.53% | +4.3% | Q1 2016 |
 DIS | $359M | 1.24% | 0.22% | Not reported | Q1 2019 |
 BRO | $345M | 1.18% | 1.63% | New | Q2 2026 |
 CX | $340M | 1.17% | 0.20% | -23.8% | Q4 2024 |
 SRRK | $326M | 1.12% | 4.88% | +42.0% | Q3 2025 |
 GMAB | $312M | 1.07% | Not reported | -12.1% | Q3 2024 |
 RHI | $303M | 1.04% | 9.65% | +30.9% | Q2 2020 |
 CRSP | $297M | 1.02% | 5.64% | -10.8% | Q4 2024 |
 AAL | $292M | 1.00% | 2.44% | +635.1% | Q1 2026 |
 TBBB | $281M | 0.96% | Not reported | +19.3% | Q4 2025 |
 SW | $272M | 0.94% | 1.12% | -57.3% | Q3 2024 |
 FNV | $269M | 0.92% | 0.67% | +19.5% | Q1 2024 |
 RRC | $249M | 0.86% | 2.84% | +147.3% | Q1 2026 |
 B | $246M | 0.84% | 0.40% | +11.1% | Q2 2025 |
 HDB | $244M | 0.84% | 0.06% | +428.4% | Q1 2024 |
 RYAN | $238M | 0.82% | 5.74% | New | Q2 2026 |
 ENB | $235M | 0.81% | 0.20% | +159.8% | Q4 2024 |
 VALE | $215M | 0.74% | 0.44% | -26.4% | Q3 2017 |
 IQV | $213M | 0.73% | 0.67% | +404.6% | Q2 2025 |
 IMAX | $205M | 0.71% | 9.39% | 0.0% | Q2 2024 |
 GLD | $184M | 0.63% | 0.14% | +5.5% | Q1 2016 |
 SYNA | $177M | 0.61% | 3.64% | -14.3% | Q3 2023 |
 RNR | $172M | 0.59% | 1.30% | -16.4% | Q4 2022 |
 AR | $160M | 0.55% | 1.47% | -6.7% | Q4 2025 |
| Q1 2026 | |||||
| CPAY | $1.56B | 6.56% | 8.08% | +7.2% | Q1 2024 |
| QXO | $1.44B | 6.06% | 10.40% | -13.5% | Q3 2024 |
| NBIS | $863M | 3.64% | 3.29% | +149.3% | Q1 2016 |
| MSI | $811M | 3.42% | 1.13% | +45.7% | Q1 2016 |
| PRAX | $797M | 3.36% | 8.87% | +97.0% | Q4 2025 |
| EQT | $771M | 3.25% | 1.94% | +248.2% | Q4 2025 |
| GOOGL | $723M | 3.05% | 0.02% | -5.7% | Q1 2016 |
| GXO | $696M | 2.94% | 11.67% | Not reported | Q3 2021 |
| XPO | $663M | 2.80% | 2.91% | -6.7% | Q1 2016 |
| BRKR | $648M | 2.73% | 11.79% | +20.4% | Q2 2025 |
 WLK | $618M | 2.61% | 4.14% | +20.7% | Q4 2022 |
| ITUB | $580M | 2.45% | 1.23% | -15.2% | Q1 2016 |
| STE | $573M | 2.42% | 2.65% | +15.3% | Q1 2025 |
| NEM | $560M | 2.36% | 0.48% | -18.2% | Q1 2016 |
| FSV | $551M | 2.33% | 8.68% | +99.9% | Q3 2023 |
| SW | $549M | 2.32% | 2.63% | -1.3% | Q3 2024 |
| RXO | $532M | 2.24% | 22.08% | +5.0% | Q4 2022 |
| BTI | $451M | 1.90% | 0.33% | -17.2% | Q1 2016 |
| ALNY | $442M | 1.86% | 1.01% | -17.5% | Q3 2023 |
| CNK | $429M | 1.81% | 12.50% | Not reported | Q3 2021 |
| CX | $425M | 1.79% | 0.26% | +2.8% | Q4 2024 |
| IBKR | $410M | 1.73% | 2.39% | -34.0% | Q4 2021 |
| NTES | $401M | 1.69% | 0.11% | +5.8% | Q1 2016 |
| SHEL | $383M | 1.61% | 0.07% | +178.6% | Q1 2022 |
| KMI | $379M | 1.60% | 0.51% | +7.2% | Q1 2016 |
| NVDA | $364M | 1.54% | 0.01% | New | Q1 2026 |
| DIS | $360M | 1.52% | 0.21% | +4.8% | Q1 2019 |
| GMAB | $347M | 1.46% | Not reported | -10.4% | Q3 2024 |
| BKNG | $311M | 1.31% | 0.23% | +139.9% | Q1 2018 |
| VALE | $308M | 1.30% | 0.59% | +6.2% | Q3 2017 |
| INSM | $306M | 1.29% | 0.87% | -55.2% | Q2 2025 |
| CRSP | $290M | 1.23% | 6.34% | +2.6% | Q4 2024 |
| DEO | $275M | 1.16% | 0.15% | +113.0% | Q3 2020 |
| FNV | $267M | 1.12% | 0.56% | -23.4% | Q1 2024 |
| B | $246M | 1.04% | 0.36% | -9.9% | Q2 2025 |
| AR | $207M | 0.87% | 1.57% | +554.8% | Q4 2025 |
| SRRK | $205M | 0.87% | 3.51% | +21.9% | Q3 2025 |
| GLD | $204M | 0.86% | 0.13% | -9.5% | Q1 2016 |
| TBBB | $200M | 0.84% | Not reported | +71.7% | Q4 2025 |
| IMAX | $196M | 0.83% | 9.39% | Not reported | Q2 2024 |
| RNR | $193M | 0.81% | 1.51% | +2.1% | Q4 2022 |
| RHI | $192M | 0.81% | 7.38% | Not reported | Q2 2020 |
| PDD | $178M | 0.75% | 0.03% | +49.3% | Q4 2024 |
 AES | $173M | 0.73% | 1.72% | -42.6% | Q3 2020 |
 SE | $153M | 0.64% | 1.04% | -32.1% | Q3 2024 |
 CRC | $151M | 0.64% | 2.45% | +13.0% | Q4 2020 |
 R | $146M | 0.61% | 1.84% | -27.0% | Q3 2024 |
 EAT | $132M | 0.56% | 2.16% | New | Q1 2026 |
 DYN | $123M | 0.52% | 4.09% | +40.8% | Q4 2025 |
| RRC | $122M | 0.52% | 1.15% | New | Q1 2026 |
| Q4 2025 | |||||
| QXO | $1.65B | 6.91% | 12.67% | -1.2% | Q3 2024 |
| CPAY | $1.5B | 6.29% | 7.30% | +20.8% | Q1 2024 |
 UNH | $852M | 3.57% | 0.28% | +30.5% | Q3 2017 |
| GOOGL | $834M | 3.49% | 0.02% | Not reported | Q1 2016 |
 ICLR | $768M | 3.22% | 5.50% | +1.8% | Q2 2024 |
| INSM | $727M | 3.05% | 1.95% | +28.6% | Q2 2025 |
| GXO | $707M | 2.96% | 11.72% | +0.3% | Q3 2021 |
| BRKR | $702M | 2.94% | 9.80% | +5.4% | Q2 2025 |
| ALNY | $643M | 2.70% | 1.22% | -17.1% | Q3 2023 |
| NEM | $631M | 2.65% | 0.58% | +12.2% | Q1 2016 |
| IBKR | $596M | 2.50% | 3.62% | -2.8% | Q4 2021 |
| ITUB | $585M | 2.45% | 1.45% | -4.8% | Q1 2016 |
| STE | $570M | 2.39% | 2.29% | +5.7% | Q1 2025 |
| SW | $540M | 2.26% | 2.67% | -26.3% | Q3 2024 |
| BTI | $527M | 2.21% | 0.40% | -2.3% | Q1 2016 |
| XPO | $496M | 2.08% | 3.12% | +15.8% | Q1 2016 |
| MSI | $492M | 2.06% | 0.77% | +95.6% | Q1 2016 |
| NTES | $466M | 1.95% | 0.11% | -18.5% | Q1 2016 |
| GMAB | $444M | 1.86% | Not reported | +30.2% | Q3 2024 |
| RXO | $438M | 1.84% | 21.12% | +6.5% | Q4 2022 |
 ELV | $436M | 1.83% | 0.56% | -4.8% | Q1 2016 |
| IQV | $429M | 1.80% | 1.12% | +96.5% | Q2 2025 |
| CX | $415M | 1.74% | 0.25% | +3.5% | Q4 2024 |
| DIS | $405M | 1.70% | 0.20% | -3.0% | Q1 2019 |
| PRAX | $370M | 1.55% | 4.98% | New | Q4 2025 |
 FBIN | $364M | 1.52% | 6.06% | +586.7% | Q1 2025 |
| CNK | $350M | 1.47% | 12.50% | +31.0% | Q3 2021 |
| SE | $346M | 1.45% | 1.54% | -12.6% | Q3 2024 |
| WLK | $324M | 1.36% | 3.42% | +12.1% | Q4 2022 |
| CRSP | $312M | 1.31% | 6.20% | +19.4% | Q4 2024 |
| FSV | $309M | 1.29% | 4.34% | +36.5% | Q3 2023 |
| AES | $306M | 1.28% | 2.99% | -17.8% | Q3 2020 |
| FNV | $292M | 1.22% | 0.73% | -0.7% | Q1 2024 |
| B | $291M | 1.22% | 0.40% | +1.9% | Q2 2025 |
| KMI | $290M | 1.22% | 0.47% | -29.1% | Q1 2016 |
| NBIS | $279M | 1.17% | 1.32% | -73.9% | Q1 2016 |
| VALE | $238M | 1.00% | 0.56% | +34.4% | Q3 2017 |
| GLD | $208M | 0.87% | 0.14% | -33.6% | Q1 2016 |
 VIPS | $191M | 0.80% | 0.97% | +12.8% | Q1 2022 |
| IMAX | $190M | 0.80% | 9.55% | -1.7% | Q2 2024 |
| R | $187M | 0.78% | 2.47% | +107.3% | Q3 2024 |
| EQT | $186M | 0.78% | 0.56% | New | Q4 2025 |
| RNR | $179M | 0.75% | 1.44% | Not reported | Q4 2022 |
| BKNG | $165M | 0.69% | 0.10% | +8.9% | Q1 2018 |
| SRRK | $151M | 0.63% | 3.16% | +1034.5% | Q3 2025 |
| DEO | $150M | 0.63% | 0.07% | +12.4% | Q3 2020 |
| PDD | $132M | 0.56% | 0.02% | -83.2% | Q4 2024 |
 BTU | $131M | 0.55% | 3.62% | -11.3% | Q4 2017 |
 WPM | $120M | 0.50% | 0.23% | Not reported | Q3 2019 |
| SYNA | $114M | 0.48% | 3.97% | +9.9% | Q3 2023 |
| Q3 2025 | |||||
| QXO | $1.65B | 7.08% | 12.83% | -10.2% | Q3 2024 |
| NBIS | $1.44B | 6.17% | 5.43% | -27.5% | Q1 2016 |
| CPAY | $1.19B | 5.10% | 5.89% | +7.1% | Q1 2024 |
| PDD | $918M | 3.94% | 0.12% | +22.9% | Q4 2024 |
| ALNY | $890M | 3.82% | 1.48% | -8.0% | Q3 2023 |
| SW | $807M | 3.46% | 3.63% | +3.0% | Q3 2024 |
| ICLR | $724M | 3.11% | 5.42% | +1133.0% | Q2 2024 |
| GXO | $708M | 3.04% | 11.69% | +1.6% | Q3 2021 |
| UNH | $683M | 2.93% | 0.22% | +82.0% | Q3 2017 |
| IBKR | $657M | 2.82% | 3.73% | -2.0% | Q4 2021 |
| NTES | $632M | 2.71% | 0.13% | +18.5% | Q1 2016 |
| ITUB | $612M | 2.63% | 1.53% | -1.4% | Q1 2016 |
| SE | $555M | 2.38% | 1.76% | +205.2% | Q3 2024 |
| STE | $527M | 2.26% | 2.17% | +1.4% | Q1 2025 |
| BTI | $505M | 2.17% | 0.41% | -34.4% | Q1 2016 |
| RXO | $501M | 2.15% | 19.85% | +3.8% | Q4 2022 |
| NEM | $475M | 2.04% | 0.51% | +12.5% | Q1 2016 |
| INSM | $468M | 2.01% | 1.53% | +113.3% | Q2 2025 |
| BRKR | $460M | 1.97% | 9.34% | +202.4% | Q2 2025 |
 NU | $437M | 1.88% | Not reported | +44.7% | Q1 2025 |
| ELV | $423M | 1.81% | 0.59% | -54.2% | Q1 2016 |
| KMI | $421M | 1.81% | 0.67% | -34.2% | Q1 2016 |
| DIS | $420M | 1.80% | 0.19% | +9.6% | Q1 2019 |
| XPO | $408M | 1.75% | 2.70% | +0.1% | Q1 2016 |
 MU | $363M | 1.56% | 0.19% | -37.3% | Q2 2016 |
| AES | $341M | 1.46% | 3.64% | -6.1% | Q3 2020 |
| GMAB | $340M | 1.46% | Not reported | +39.9% | Q3 2024 |
| CRSP | $323M | 1.39% | 5.31% | +80.2% | Q4 2024 |
| CNK | $322M | 1.38% | 9.54% | +13.8% | Q3 2021 |
| FNV | $316M | 1.36% | 0.74% | +0.4% | Q1 2024 |
| CX | $314M | 1.35% | 0.24% | +32.7% | Q4 2024 |
| WLK | $302M | 1.29% | 3.05% | Not reported | Q4 2022 |
| MSI | $300M | 1.29% | 0.39% | +273.7% | Q1 2016 |
| GLD | $281M | 1.20% | 0.24% | -2.6% | Q1 2016 |
| FSV | $277M | 1.19% | 3.21% | +2.1% | Q3 2023 |
| B | $215M | 0.92% | 0.38% | +4.1% | Q2 2025 |
| VIPS | $188M | 0.81% | 0.86% | +96.7% | Q1 2022 |
| IQV | $184M | 0.79% | 0.57% | +1753.7% | Q2 2025 |
| IMAX | $172M | 0.74% | 9.74% | +2.5% | Q2 2024 |
| BKNG | $153M | 0.65% | 0.09% | -7.4% | Q1 2018 |
| DEO | $148M | 0.63% | 0.06% | +33.5% | Q3 2020 |
| VALE | $147M | 0.63% | 0.42% | -31.0% | Q3 2017 |
 BIDU | $138M | 0.59% | Not reported | Not reported | Q1 2016 |
| BTU | $132M | 0.56% | 4.08% | Not reported | Q4 2017 |
| WPM | $115M | 0.49% | 0.23% | Not reported | Q3 2019 |
 GFI | $112M | 0.48% | 0.30% | Not reported | Q1 2022 |
 BUR | $110M | 0.47% | 4.20% | +18.9% | Q4 2020 |
| SHEL | $102M | 0.44% | 0.02% | -80.6% | Q1 2022 |
| SYNA | $95.6M | 0.41% | 3.58% | -23.7% | Q3 2023 |
| R | $88.7M | 0.38% | 1.16% | -53.2% | Q3 2024 |