GQG Partners LLC

New 13F: Q3 2026

GQG Partners LLC filed its 13F for the quarter ended Sep 30, 2026 on Nov 13, 2026: $35.7B in AI and semiconductor stocks; $32.4B bought and $4.3B sold against its previous quarter, at the quarter's prices.

• opened a position in Nebius (NBIS): +$2.6B at the quarter's price
• added to NVIDIA (NVDA): +$2.5B at the quarter's price
• added to Alphabet (GOOGL): +$2.4B at the quarter's price
• opened a position in Seagate (STX): +$2.4B at the quarter's price
• added to TSMC (TSM): +$2.2B at the quarter's price
• added to Microsoft (MSFT): +$2.1B at the quarter's price
• added to Apple (AAPL): +$2.0B at the quarter's price
• opened a position in Lam Research (LRCX): +$2.0B at the quarter's price
• added to Amazon (AMZN): +$2.0B at the quarter's price
• opened a position in Micron (MU): +$1.4B at the quarter's price

GQG Partners LLC declares $7.5B in 18 of the 230 AI and semiconductor companies tracked on Silicon Floor, as of Jun 30, 2026 (Form 13F): 14.0% of its $53.8B 13F portfolio. Largest positions: American Electric Power (1.9% of the company) and Exelon (1.9% of the company). Over time: $7.5B in 18 of these companies for Q2 2026, against $4.0B in 13 for Q4 2019 (13F values as filed). From Mar 31, 2026 to Jun 30, 2026, it bought $2.7B and sold $1.1B of these stocks, at the quarter's prices: a net purchase of $1.6B; 8 new positions.

Performance of its AI picks

The AI-stock portfolio GQG Partners LLC declared for Q2 2026 (Form 13F), held unchanged, returned -1.4% in Q3 2026 (SMH -7.1%), ranked 1400 of 1,785 active managers. Over the last 12 months, quarter after quarter: +5.6% (SMH +87.2%), ranked 1335 of 1,360 active managers. Over three years, quarter after quarter: +129.6% (SMH +325.8%), ranked 570 of 784 active managers. Over five years, quarter after quarter: +155.2% (SMH +389.8%), ranked 290 of 535 active managers. Trades made during a quarter are not visible in 13F filings: this measures its declared picks, not the return of its funds.

Largest positions

1. American Electric Power (AEP): $1.4B, 10.3M shares, 1.9% of the company, 2.6% of its portfolio (trimmed this quarter); held since Q2 2024
2. Exelon (EXC): $922.9M, 19.8M shares, 1.9% of the company, 1.7% of its portfolio (trimmed this quarter); held since Q1 2025
3. Xcel Energy (XEL): $891.7M, 11.1M shares, 1.7% of the company, 1.7% of its portfolio (trimmed this quarter); held since Q2 2025
4. Duke Energy (DUK): $823.2M, 6.5M shares, 0.83% of the company, 1.5% of its portfolio (trimmed this quarter); held since Q1 2024
5. NextEra Energy (NEE): $651.3M, 7.4M shares, 0.35% of the company, 1.2% of its portfolio (trimmed this quarter); held since Q4 2023
6. NVIDIA (NVDA): $590.2M, 2.9M shares, 0.01% of the company, 1.1% of its portfolio (added this quarter); held since Q1 2023
7. Dell (DELL): $478.9M, 1.1M shares, 0.17% of the company, 0.89% of its portfolio (new position this quarter)
8. TSMC (TSM): $414.0M, 866,910 shares, 0.02% of the company, 0.77% of its portfolio (added this quarter); held since Q4 2019 or earlier
9. Apple (AAPL): $372.2M, 1.3M shares, 0.01% of the company, 0.69% of its portfolio (new position this quarter)
10. Meta Platforms (META): $333.1M, 591,397 shares, 0.02% of the company, 0.62% of its portfolio (new position this quarter)
11. Microsoft (MSFT): $316.5M, 848,548 shares, 0.01% of the company, 0.59% of its portfolio (new position this quarter)
12. Broadcom (AVGO): $140.8M, 372,865 shares, 0.01% of the company, 0.26% of its portfolio (new position this quarter)
13. Amazon (AMZN): $136.8M, 573,974 shares, 0.01% of the company, 0.25% of its portfolio (added this quarter); held since Q2 2023
14. Alphabet (GOOGL): $22.6M, 63,882 shares, 0.00% of the company, 0.04% of its portfolio (added this quarter); held since Q2 2024
15. IBM (IBM): $8.6M, 30,749 shares, 0.00% of the company, 0.02% of its portfolio (new position this quarter)

By sector

• Power, electrical & cooling: $4.7B, 63% of its AI holdings, 6 companies
• Cloud & AI giants: $1.2B, 16% of its AI holdings, 5 companies
• Chips & compute: $1.1B, 15% of its AI holdings, 3 companies
• Servers & systems: $487.6M, 6% of its AI holdings, 2 companies
• Equipment & test: $1.1M, 0% of its AI holdings, 1 company
• AI software: $229,464.00, 0% of its AI holdings, 1 company

Biggest changes this quarter

• trimmed American Electric Power (AEP): -$651.6M at the quarter's price
• added to NVIDIA (NVDA): +$589.6M at the quarter's price
• opened a position in Dell (DELL): +$478.9M at the quarter's price
• opened a position in Apple (AAPL): +$372.2M at the quarter's price
• opened a position in Meta Platforms (META): +$333.1M at the quarter's price
• added to TSMC (TSM): +$329.6M at the quarter's price
• opened a position in Microsoft (MSFT): +$316.5M at the quarter's price
• trimmed Duke Energy (DUK): -$164.5M at the quarter's price
• trimmed NextEra Energy (NEE): -$161.3M at the quarter's price
• opened a position in Broadcom (AVGO): +$140.8M at the quarter's price

Other holders of this size

• IEQ CAPITAL, LLC: $7.4B in 140 of these companies
• BARROW HANLEY MEWHINNEY & STRAUSS LLC: $7.6B in 42 of these companies
• O'SHAUGHNESSY ASSET MANAGEMENT, LLC: $7.4B in 171 of these companies
• NATIXIS: $7.6B in 116 of these companies
• Vinva Investment Management Ltd: $7.4B in 93 of these companies
• MML INVESTORS SERVICES, LLC: $7.7B in 177 of these companies
• Federation des caisses Desjardins du Quebec: $7.4B in 197 of these companies
• AXIOM INVESTORS LLC /DE: $7.7B in 43 of these companies

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