ORBIS ALLAN GRAY LTD
Q1 2025 Form 13-F
HAMILTON, BERMUDA
CIK 0001663865
· Institutional investment manager
Consolidated report · includes
3 managers
since Q1 2016
$17.5B Reported Value Total
Reported value
$17.5B
Quarter over quarter
-2.1%
Holdings
78
Top-10 concentration
44.4%
Filing Structure
Reports holdings for
- ORBIS INVESTMENT MANAGEMENT LTD · File #028-04613 · since Q1 2016
- Orbis Investment Management U S L P · File #028-15939 · since Q1 2019
- Allan Gray Bermuda Ltd (not a 13F filer in our records) · File #028-23469 · since Q3 2023
- Allan Gray Bermuda Ltd (not a 13F filer in our records) · Q3 2023 – Q3 2023 · declared by one filing
- Allan Gray Proprietary Ltd (not a 13F filer in our records) · File #028-17460 · Q1 2016 – Q3 2018
- Orbis Investment Management (B.V.I.) Ltd (not a 13F filer in our records) · File #028-13587 · Q1 2016 – Q3 2017
Key People
Named on the latest Form 13-F filing — not necessarily an owner
Matt Gaarder
Attorney-in-fact
Filing Navigation
13F Metrics
Loading 13F Metrics
Q1 2025 13F record
Q1 2025 13F filing summary
| Period of report | March 31, 2025 |
|---|---|
| Filed | May 15, 2025 |
| Form | 13F-HR |
| Reported value | $17.5B |
| Positions | 78 |
| Change in reported value | -5.9% |
| New positions | 7 |
| Exited positions | 13 |
| Position turnover | 22.0% |
| Top-10 concentration | 44.4% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 14, 2026
|
97 | $29.1B |
|
Q1 2026 13F
Filed May 15, 2026
|
91 | $23.7B |
|
Q4 2025 13F
Filed Feb 17, 2026
|
89 | $23.9B |
|
Q3 2025 13F
Filed Nov 14, 2025
|
86 | $23.3B |
|
Q2 2025 13F
Filed Aug 14, 2025
|
78 | $20.6B |
|
Q1 2025 13F
Filed May 15, 2025
|
78 | $17.5B |
|
Q4 2024 13F
Filed Feb 14, 2025
|
84 | $18.6B |
|
Q3 2024 13F
Filed Nov 14, 2024
|
80 | $18.9B |
|
Q2 2024 13F
Filed Aug 14, 2024
|
76 | $16.1B |
|
Q1 2024 13F
Filed May 15, 2024
|
71 | $16.7B |
|
Q4 2023 13F
Filed Feb 14, 2024
|
73 | $15.9B |
|
Q3 2023 13F
Filed Nov 14, 2023
|
76 | $13.9B |
|
Q2 2023 13F
Filed Aug 14, 2023
|
73 | $14.0B |
|
Q1 2023 13F
Filed May 15, 2023
|
72 | $12.7B |
|
Q4 2022 13F
Filed Feb 14, 2023
|
78 | $12.6B |
|
Q3 2022 13F
Filed Nov 14, 2022
|
72 | $12.2B |
|
Q2 2022 13F
Filed Aug 15, 2022
|
73 | $12.4B |
|
Q1 2022 13F
Filed May 16, 2022
|
74 | $13.7B |
|
Q4 2021 13F
Filed Feb 14, 2022
|
63 | $13.5B |
|
Q3 2021 13F
Filed Nov 15, 2021
|
62 | $14.6B |
22 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q1 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | QXO QXO INC | $1.5B | 8.47% |
| 2 | CPAY CORPAY INC | $1.3B | 7.44% |
| 3 | ELV ELEVANCE HEALTH INC | $1.2B | 7.09% |
| 4 | KMI KINDER MORGAN INC DEL | $626.6M | 3.58% |
| 5 | IBKR INTERACTIVE BROKERS GROUP IN | $578.5M | 3.31% |
| 6 | RXO RXO INC | $577.4M | 3.3% |
| 7 | GXO GXO LOGISTICS INCORPORATED | $526.5M | 3.01% |
| 8 | BTI BRITISH AMERN TOB PLC | $497.3M | 2.84% |
| 9 | SHEL SHELL PLC | $473.1M | 2.71% |
| 10 | SW SMURFIT WESTROCK PLC | $455.7M | 2.61% |
| 11 | ALNY ALNYLAM PHARMACEUTICALS INC | $441.5M | 2.53% |
| 12 | RNR RENAISSANCERE HLDGS LTD | $419.6M | 2.4% |
| 13 | NTES NETEASE INC | $377.2M | 2.16% |
| 14 | MCHP MICROCHIP TECHNOLOGY INC. | $369.6M | 2.11% |
| 15 | DIS DISNEY WALT CO | $354.2M | 2.03% |
| 16 | STE STERIS PLC | $350.0M | 2.0% |
| 17 | UNH UNITEDHEALTH GROUP INC | $348.4M | 1.99% |
| 18 | AES AES CORP | $341.8M | 1.95% |
| 19 | NBIS NEBIUS GROUP N.V. | $331.5M | 1.9% |
| 20 | MSI MOTOROLA SOLUTIONS INC | $322.3M | 1.84% |
Values as reported on the Q1 2025 Form 13F. Every position is in the holdings table below.