Q4 2025 · 13F-HR
Orbis Allan Gray Ltdholdings as filed
Filed 2026-02-17 · accession 0001663865-26-000002
$23.87B
Reported value
89
Positions
2025-12-31
Period end
The Brief · Orbis Allan Gray Ltd · Q4 2025
AI · grounded in 13F
Orbis Allan Gray Ltd established a new position in GOOGL valued at $833.8M. The fund also opened a new stake in PRAX for $369.9M and increased its holding in IQV by 96.5%. On the sell side, the fund closed its entire position in MU, reducing its exposure by $362.5M. Other notable reductions include trimming shares of PDD by 83.2% and NU HLDGS LTD by 85.6%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 82846H405 | QXO | QXO INC | $1.65B | 6.91% | 85,484,474 | Common | SOLE |
| 219948106 | CPAY | CORPAY INC | $1.50B | 6.29% | 4,987,968 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $852.1M | 3.57% | 2,581,182 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $833.8M | 3.49% | 2,663,789 | Common | SOLE |
| G4705A100 | ICLR | ICON PLC | $768.0M | 3.22% | 4,214,661 | Common | SOLE |
| 457669307 | INSM | INSMED INC | $727.5M | 3.05% | 4,179,957 | Common | SOLE |
| 36262G101 | GXO | GXO LOGISTICS INCORPORATED | $706.7M | 2.96% | 13,424,844 | Common | SOLE |
| 116794108 | BRKR | BRUKER CORP | $702.3M | 2.94% | 14,906,730 | Common | SOLE |
| 02043Q107 | ALNY | ALNYLAM PHARMACEUTICALS INC | $643.5M | 2.70% | 1,618,219 | Common | SOLE |
| 651639106 | NEM | NEWMONT CORP | $631.3M | 2.65% | 6,322,769 | Common | SOLE |
| 45841N107 | IBKR | INTERACTIVE BROKERS GROUP IN | $596.4M | 2.50% | 9,273,735 | Common | SOLE |
| 465562106 | ITUB | ITAU UNIBANCO HLDG S A | $584.8M | 2.45% | 81,682,615 | Common | SOLE |
| G8473T100 | STE | STERIS PLC | $570.3M | 2.39% | 2,249,511 | Common | SOLE |
| G8267P108 | SW | SMURFIT WESTROCK PLC | $539.7M | 2.26% | 13,956,868 | Common | SOLE |
| 110448107 | BTI | BRITISH AMERN TOB PLC | $526.6M | 2.21% | 9,300,901 | Common | SOLE |
| 983793100 | XPO | XPO INC | $496.4M | 2.08% | 3,652,589 | Common | SOLE |
| 620076307 | MSI | MOTOROLA SOLUTIONS INC | $491.8M | 2.06% | 1,283,065 | Common | SOLE |
| 64110W102 | NTES | NETEASE INC | $466.5M | 1.95% | 3,389,449 | Common | SOLE |
| 372303206 | GMAB | GENMAB A/S | $444.1M | 1.86% | 14,418,462 | Common | SOLE |
| 74982T103 | RXO | RXO INC | $438.3M | 1.84% | 34,677,755 | Common | SOLE |
| 036752103 | ELV | ELEVANCE HEALTH INC FORMERLY | $436.4M | 1.83% | 1,244,946 | Common | SOLE |
| 46266C105 | IQV | IQVIA HLDGS INC | $428.5M | 1.80% | 1,901,091 | Common | SOLE |
| 151290889 | CX | CEMEX SAB DE CV | $415.2M | 1.74% | 36,132,733 | Common | SOLE |
| 254687106 | DIS | DISNEY WALT CO | $405.4M | 1.70% | 3,563,050 | Common | SOLE |
| 74006W207 | PRAX | PRAXIS PRECISION MEDICINES I | $369.9M | 1.55% | 1,255,162 | Common | SOLE |
| 34964C106 | FBIN | FORTUNE BRANDS INNOVATIONS I | $363.8M | 1.52% | 7,272,289 | Common | SOLE |
| 17243V102 | CNK | CINEMARK HLDGS INC | $349.9M | 1.47% | 15,057,911 | Common | SOLE |
| 81141R100 | SE | SEA LTD | $346.5M | 1.45% | 2,715,855 | Common | SOLE |
| 960413102 | WLK | WESTLAKE CORPORATION | $324.3M | 1.36% | 4,386,635 | Common | SOLE |
| H17182108 | CRSP | CRISPR THERAPEUTICS AG | $312.0M | 1.31% | 5,950,145 | Common | SOLE |
| 33767E202 | FSV | FIRSTSERVICE CORP NEW | $308.7M | 1.29% | 1,984,677 | Common | SOLE |
| 00130H105 | AES | AES CORP | $305.7M | 1.28% | 21,317,334 | Common | SOLE |
| 351858105 | FNV | FRANCO NEV CORP | $292.1M | 1.22% | 1,409,189 | Common | SOLE |
| 06849F108 | B | BARRICK MNG CORP | $291.0M | 1.22% | 6,682,200 | Common | SOLE |
| 49456B101 | KMI | KINDER MORGAN INC DEL | $290.0M | 1.22% | 10,550,337 | Common | SOLE |
| N97284108 | NBIS | NEBIUS GROUP N.V. | $279.2M | 1.17% | 3,335,358 | Common | SOLE |
| 91912E105 | VALE | VALE S A | $237.7M | 1.00% | 18,242,181 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $207.6M | 0.87% | 523,786 | Common | SOLE |
| 92763W103 | VIPS | VIPSHOP HLDGS LTD | $191.3M | 0.80% | 10,814,948 | Common | SOLE |
| 45245E109 | IMAX | IMAX CORP | $190.4M | 0.80% | 5,151,721 | Common | SOLE |
| 783549108 | R | RYDER SYS INC | $186.5M | 0.78% | 974,620 | Common | SOLE |
| 26884L109 | EQT | EQT CORP | $186.5M | 0.78% | 3,479,105 | Common | SOLE |
| G7496G103 | RNR | RENAISSANCERE HLDGS LTD | $178.5M | 0.75% | 634,937 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $164.7M | 0.69% | 30,748 | Common | SOLE |
| 80706P103 | SRRK | SCHOLAR ROCK HLDG CORP | $151.0M | 0.63% | 3,428,929 | Common | SOLE |
| 25243Q205 | DEO | DIAGEO PLC | $149.9M | 0.63% | 1,737,346 | Common | SOLE |
| 722304102 | PDD | PDD HOLDINGS INC | $132.5M | 0.56% | 1,168,327 | Common | SOLE |
| 704551100 | BTU | PEABODY ENERGY CORP | $130.6M | 0.55% | 4,397,530 | Common | SOLE |
| 962879102 | WPM | WHEATON PRECIOUS METALS CORP | $120.3M | 0.50% | 1,023,924 | Common | SOLE |
| 87157D109 | SYNA | SYNAPTICS INC | $113.7M | 0.48% | 1,536,228 | Common | SOLE |
| G0896C103 | TBBB | BBB FOODS INC | $109.8M | 0.46% | 3,288,723 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC | $108.5M | 0.45% | 1,476,355 | Common | SOLE |
| G17977110 | BUR | BURFORD CAP LTD | $107.5M | 0.45% | 12,051,544 | Common | SOLE |
| 38059T106 | GFI | GOLD FIELDS LTD | $107.5M | 0.45% | 2,461,373 | Common | SOLE |
| 571903202 | MAR | MARRIOTT INTL INC NEW | $96.1M | 0.40% | 309,641 | Common | SOLE |
| 26818M108 | DYN | DYNE THERAPEUTICS INC | $93.9M | 0.39% | 4,801,928 | Common | SOLE |
| 13057Q305 | CRC | CALIFORNIA RES CORP | $86.1M | 0.36% | 1,926,769 | Common | SOLE |
| 680665205 | OLN | OLIN CORP | $79.2M | 0.33% | 3,804,561 | Common | SOLE |
| 573874104 | MRVL | MARVELL TECHNOLOGY INC | $76.9M | 0.32% | 904,659 | Common | SOLE |
| 98741T104 | DAO | YOUDAO INC | $70.0M | 0.29% | 6,943,858 | Common | SOLE |
| 29250N105 | ENB | ENBRIDGE INC | $68.9M | 0.29% | 1,439,899 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $65.7M | 0.28% | 3,923,704 | Common | SOLE |
| 05605H100 | BWXT | BWX TECHNOLOGIES INC | $53.5M | 0.22% | 309,516 | Common | SOLE |
| 099502106 | BAH | BOOZ ALLEN HAMILTON HLDG COR | $47.9M | 0.20% | 567,544 | Common | SOLE |
| 647581206 | EDU | NEW ORIENTAL ED & TECHNOLOGY | $46.1M | 0.19% | 837,551 | Common | SOLE |
| 682189105 | ON | ON SEMICONDUCTOR CORP | $45.8M | 0.19% | 845,781 | Common | SOLE |
| 654106103 | NKE | NIKE INC | $42.8M | 0.18% | 672,298 | Common | SOLE |
| 635309206 | NCMI | NATIONAL CINEMEDIA INC | $37.0M | 0.16% | 9,523,889 | Common | SOLE |
| G0378L100 | AU | ANGLOGOLD ASHANTI PLC | $36.5M | 0.15% | 427,891 | Common | SOLE |
| 827048109 | SLGN | SILGAN HLDGS INC | $35.9M | 0.15% | 888,720 | Common | SOLE |
| 66981J102 | MNSO | MINISO GROUP HLDG LTD | $33.6M | 0.14% | 1,792,873 | Common | SOLE |
| 056752108 | BIDU | BAIDU INC | $33.3M | 0.14% | 254,741 | Common | SOLE |
| 48241A105 | KB | KB FINL GROUP INC | $32.6M | 0.14% | 378,785 | Common | SOLE |
| 29084Q100 | EME | EMCOR GROUP INC | $32.2M | 0.14% | 52,683 | Common | SOLE |
| 73642K106 | PTLO | PORTILLOS INC | $31.8M | 0.13% | 6,994,844 | Common | SOLE |
| 566330106 | MCS | MARCUS CORP DEL | $29.7M | 0.12% | 1,915,765 | Common | SOLE |
| 40609P105 | HNRG | HALLADOR ENERGY COMPANY | $28.4M | 0.12% | 1,490,148 | Common | SOLE |
| 368736104 | GNRC | GENERAC HLDGS INC | $27.6M | 0.12% | 202,218 | Common | SOLE |
| 03674X106 | AR | ANTERO RESOURCES CORP | $25.6M | 0.11% | 744,108 | Common | SOLE |
| 40415F101 | HDB | HDFC BANK LTD | $25.6M | 0.11% | 700,833 | Common | SOLE |
| 03676B102 | AM | ANTERO MIDSTREAM CORP | $25.1M | 0.11% | 1,410,004 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $21.8M | 0.09% | 45,105 | Common | SOLE |
| 550021109 | LULU | LULULEMON ATHLETICA INC | $19.4M | 0.08% | 93,221 | Common | SOLE |
| 458140100 | INTC | INTEL CORP | $18.3M | 0.08% | 495,099 | Common | SOLE |
| M2197Q107 | CLBT | CELLEBRITE DI LTD | $12.1M | 0.05% | 670,613 | Common | SOLE |
| G3922B107 | G | GENPACT LIMITED | $9.4M | 0.04% | 200,245 | Common | SOLE |
| N5505D105 | MICC | MAGNUM ICE CREAM CO NV | $7.1M | 0.03% | 447,614 | Common | SOLE |
| G1757E113 | CMCL | CALEDONIA MNG CORP PLC | $5.5M | 0.02% | 211,822 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $1.5M | 0.01% | 5,044 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.