GQG Partners (Rajiv Jain & Tim Carver) latest 13F portfolio: 102 holdings worth $53.4B as of Q2 2026.
Backtested since 2020: mirroring GQG Partners's reported 13F equity holdings each quarter would have returned +272.9% versus +187.3%for the S&P 500 (+23.1% annualized). See the Performance tab for the full equity curve.
Investor: Rajiv Jain & Tim Carver
Number of Assets: 102
Reporting Period: Q2 - 2026
Holdings at Report: $53,364,126,724
Return $ Since Report: +$3,312,218,379
Return % Since Report: +6.21%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Embraer S.A. (ERJ) | Equity | -47.51% | 3,188,244 | 0.38% | $63.80 | $64.37 | $203,409,967 | $205,227,266 | +$1,817,299 | +0.89% |
| Itaú Unibanco Holding S.A. (ITUB) | C.Pref | -41.04% | 48,136,668 | N/A | $8.17 | N/A | $393,276,593 | N/A | N/A | N/A |
| Totalenergies Se | Equity | +8.68% | 263,895 | 0.04% | $77.73 | N/A | $20,512,763 | N/A | N/A | N/A |
| Centrais Elétricas Brasileiras S.A. - Eletrobrás (EBR) | Equity | +8.64% | 30,403 | 0.00% | $10.56 | $9.75 | $321,056 | $296,429 | -$24,627 | -7.67% |
| SAP SE (SAP) | Equity | +100% | 45,468 | 0.01% | $154.11 | $214.64 | $7,007,009 | $9,759,252 | +$2,752,243 | +39.28% |
| SPDR S&P 500 ETF Trust (SPY) | Equity | +57.45% | 14,777 | 0.02% | $746.95 | $762.43 | $11,037,628 | $11,266,354 | +$228,726 | +2.07% |
| Altria Group Inc. (MO) | Equity | +5.35% | 25,111,622 | 3.39% | $71.95 | $69.57 | $1,806,782,270 | $1,746,889,984 | -$59,892,286 | -3.31% |
| Ambev S.A. (ABEV) | Equity | -1.05% | 185,072,397 | 1.09% | $3.14 | $3.00 | $581,127,327 | $554,291,829 | -$26,835,498 | -4.62% |
| Apple Inc. (AAPL) | Equity | +100% | 1,286,388 | 0.70% | $289.36 | $335.81 | $372,229,186 | $431,981,954 | +$59,752,768 | +16.05% |
| At&T Inc. (T) | Equity | -27.35% | 59,099,713 | 2.29% | $20.70 | $25.41 | $1,223,364,203 | $1,501,428,209 | +$278,064,006 | +22.73% |
| Banco Bilbao Vizcaya Argentaria S.A. (BBVA) | Equity | +100% | 330,608 | 0.02% | $25.06 | $28.84 | $8,285,036 | $9,534,074 | +$1,249,038 | +15.08% |
| British American Tobacco P.L.C. (BTI) | Equity | -11.26% | 24,566,708 | 2.84% | $61.76 | $55.99 | $1,517,240,175 | $1,375,367,147 | -$141,873,028 | -9.35% |
| Chubb Limited (CB) | Equity | +0.44% | 12,473,178 | 7.96% | $340.74 | $340.38 | $4,250,112,612 | $4,245,620,328 | -$4,492,284 | -0.11% |
| Credicorp. Ltd. (BAP) | Equity | 0% | 72,991 | 0.05% | $389.58 | $383.80 | $28,435,834 | $28,013,581 | -$422,253 | -1.48% |
| Duke Energy Corp. (DUK) | Equity | -16.65% | 6,503,039 | 1.54% | $126.58 | $118.05 | $823,157,324 | $767,683,754 | -$55,473,570 | -6.74% |
| Factset Research Systems Inc. (FDS) | Equity | +100% | 21,296 | 0.01% | $230.08 | $279.85 | $4,899,784 | $5,959,686 | +$1,059,902 | +21.63% |
| Icici Bank Limited (IBN) | Equity | -60.06% | 30,898,356 | 1.68% | $29.03 | $28.24 | $896,979,414 | $872,415,082 | -$24,564,332 | -2.74% |
| Ishares Russell 1000 ETF (IWB) | Equity | +123.51% | 2,481 | 0.00% | $409.68 | $415.84 | $1,016,428 | $1,031,699 | +$15,271 | +1.50% |
| Lloyds Banking Group PLC (LYG) | Equity | +100% | 341,126 | 0.00% | $5.83 | $5.97 | $1,988,781 | $2,036,522 | +$47,741 | +2.40% |
| Nextera Energy Inc. (NEE) | Equity | -19.85% | 7,420,437 | 1.22% | $87.77 | $81.19 | $651,293,395 | $602,465,280 | -$48,828,115 | -7.50% |
| Pepsico Inc. (PEP) | Equity | -79.44% | 218,202 | 0.06% | $135.41 | $133.70 | $29,546,551 | $29,173,607 | -$372,944 | -1.26% |
| The Procter & Gamble Company (PG) | Equity | -69.76% | 29,177 | 0.01% | $146.64 | $147.40 | $4,278,491 | $4,300,690 | +$22,199 | +0.52% |
| American Electric Power Company Inc. (AEP) | Equity | -31.70% | 10,263,074 | 2.63% | $136.81 | $121.47 | $1,404,093,904 | $1,246,655,599 | -$157,438,305 | -11.21% |
| Applovin Corp. (APP) | Equity | -0.80% | 1,852 | 0.00% | $515.17 | $316.39 | $954,098 | $585,954 | -$368,144 | -38.59% |
| Atlassian Corp. (TEAM) | Equity | +100% | 7,658,413 | 1.12% | $77.79 | $192.38 | $595,747,918 | $1,473,325,493 | +$877,577,575 | +147.31% |
| Banco Santander S.A. (SAN) | Equity | +100% | 259,273 | 0.01% | $13.80 | $14.81 | $3,578,011 | $3,838,537 | +$260,526 | +7.28% |
| Broadcom Inc. (AVGO) | Equity | +100% | 372,865 | 0.26% | $377.75 | $349.15 | $140,849,881 | $130,185,815 | -$10,664,066 | -7.57% |
| The Cigna Group (CI) | Equity | -1.56% | 5,908,707 | 3.05% | $275.68 | $278.22 | $1,628,918,123 | $1,643,890,918 | +$14,972,795 | +0.92% |
| CVS Health Corp. (CVS) | Equity | +25136.85% | 7,955,411 | 1.54% | $103.45 | $91.55 | $822,989,370 | $728,317,877 | -$94,671,493 | -11.50% |
| The Goldman Sachs Group Inc. (GS) | Equity | 0% | 298 | 0.00% | $1,010.65 | $953.83 | $301,174 | $284,241 | -$16,933 | -5.62% |
| Infosys Limited (INFY) | Equity | +100% | 26,999,640 | 0.53% | $10.49 | $11.05 | $283,226,224 | $298,346,022 | +$15,119,798 | +5.34% |
| Mcdonald'S Corp. (MCD) | Equity | +100% | 601,383 | 0.30% | $270.32 | $249.84 | $162,563,590 | $150,249,529 | -$12,314,061 | -7.57% |
| Novartis Ag (NVS) | Equity | -12.10% | 2,151,131 | 0.63% | $156.72 | $140.66 | $337,128,503 | $302,567,331 | -$34,561,172 | -10.25% |
| Petróleo Brasileiro S.A. - Petrobras (PBR) | Equity | +11.39% | 193,198,230 | 5.85% | $16.16 | $21.01 | $3,122,083,433 | $4,058,128,821 | +$936,045,388 | +29.98% |
| The Progressive Corp. (PGR) | Equity | -22.93% | 7,043,101 | 2.88% | $218.45 | $215.94 | $1,538,570,007 | $1,520,887,230 | -$17,682,777 | -1.15% |
| Shell PLC (SHEL) | Equity | 0% | 6,001 | 0.00% | $77.54 | $95.88 | $465,342 | $575,376 | +$110,034 | +23.65% |
| Suncor Energy Inc. (SU) | Equity | -86.68% | 2,293,204 | 0.23% | $53.78 | $69.32 | $123,327,657 | $158,953,435 | +$35,625,778 | +28.89% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | +390.29% | 866,910 | 0.78% | $477.57 | $428.81 | $414,010,231 | $371,739,677 | -$42,270,554 | -10.21% |
| Verizon Communications Inc. (VZ) | Equity | -21.52% | 35,877,241 | 2.85% | $42.34 | $48.65 | $1,519,042,936 | $1,745,248,388 | +$226,205,452 | +14.89% |
| Walmart Inc. (WMT) | Equity | 0% | 5,394 | 0.00% | $113.25 | $106.81 | $610,882 | $576,106 | -$34,776 | -5.69% |
| Abbvie Inc. (ABBV) | Equity | +100% | 1,921,614 | 0.91% | $251.64 | $262.24 | $483,559,978 | $503,924,055 | +$20,364,077 | +4.21% |
| American International Group Inc. (AIG) | Equity | -99.31% | 73,409 | 0.01% | $74.53 | $75.38 | $5,471,194 | $5,533,203 | +$62,009 | +1.13% |
| Arch Capital Group Ltd. (ACGL) | Equity | +4.33% | 1,717,256 | 0.31% | $97.06 | $96.35 | $166,676,867 | $165,457,616 | -$1,219,251 | -0.73% |
| Atmos Energy Corp. (ATO) | Equity | +32.45% | 1,175,136 | 0.38% | $172.27 | $162.86 | $202,443,484 | $191,376,773 | -$11,066,711 | -5.47% |
| Bank Of America Corp. (BAC) | Equity | +100% | 3,166,564 | 0.34% | $56.98 | $58.32 | $180,431,514 | $184,674,012 | +$4,242,498 | +2.35% |
| Canadian Natural Resources Limited (CNQ) | Equity | -98.43% | 274,860 | 0.02% | $39.54 | $50.29 | $10,868,440 | $13,822,709 | +$2,954,269 | +27.18% |
| Cenovus Energy Inc. (CVE) | Equity | -38.03% | 16,592,495 | 0.77% | $24.80 | $32.68 | $411,552,352 | $542,159,774 | +$130,607,422 | +31.74% |
| Cinc.Innati Financial Corp. (CINF) | Equity | -22.92% | 1,170,338 | 0.41% | $185.14 | $169.91 | $216,679,259 | $198,852,130 | -$17,827,129 | -8.23% |
| Dell Technologies Inc. (DELL) | Equity | +100% | 1,110,030 | 0.90% | $431.46 | $586.40 | $478,933,543 | $650,921,592 | +$171,988,049 | +35.91% |
| Enbridge Inc. (ENB) | Equity | -35.78% | 49,084,876 | 4.99% | $54.21 | $48.80 | $2,660,876,370 | $2,395,145,609 | -$265,730,761 | -9.99% |
| Eni S.P.A. (E) | Equity | +96.47% | 590,882 | 0.05% | $46.86 | $55.41 | $27,689,004 | $32,740,772 | +$5,051,768 | +18.24% |
| Grab Holdings Limited (GRAB) | Equity | +100% | 12,945 | 0.00% | $3.77 | $2.86 | $48,803 | $37,023 | -$11,780 | -24.14% |
| International Business Machines Corp. (IBM) | Equity | +100% | 30,749 | 0.02% | $281.21 | $238.50 | $8,646,937 | $7,333,759 | -$1,313,178 | -15.19% |
| JD.com Inc. (JD) | Equity | +100% | 2,304,023 | 0.11% | $25.48 | $26.82 | $58,706,506 | $61,782,377 | +$3,075,871 | +5.24% |
| Merck & Co. Inc. (MRK) | Equity | +0.14% | 53,092 | 0.01% | $128.50 | $146.69 | $6,822,322 | $7,787,800 | +$965,478 | +14.15% |
| Microsoft Corp. (MSFT) | Equity | +100% | 848,548 | 0.59% | $373.02 | $495.43 | $316,525,514 | $420,396,136 | +$103,870,622 | +32.82% |
| Nvidia Corp. (NVDA) | Equity | +98752.28% | 2,949,752 | 1.11% | $200.09 | $219.25 | $590,215,822 | $646,733,126 | +$56,517,304 | +9.58% |
| Pfizer Inc. (PFE) | Equity | +36.35% | 131,567 | 0.01% | $24.08 | $27.65 | $3,168,134 | $3,637,170 | +$469,036 | +14.80% |
| Renaissancere Holdings Ltd. (RNR) | Equity | +16.43% | 584,871 | 0.35% | $316.91 | $329.27 | $185,350,721 | $192,580,474 | +$7,229,753 | +3.90% |
| The Southern Company (SO) | Equity | +0.14% | 53,777 | 0.01% | $95.71 | $86.35 | $5,146,997 | $4,643,644 | -$503,353 | -9.78% |
| Tc Energy Corp. (TRP) | Equity | -1.24% | 16,736,302 | 2.08% | $66.20 | $61.92 | $1,107,935,862 | $1,036,311,820 | -$71,624,042 | -6.46% |
| Workday Inc. (WDAY) | Equity | +100% | 15,242 | 0.00% | $122.42 | $197.71 | $1,865,985 | $3,013,496 | +$1,147,511 | +61.50% |
| The Allstate Corp. (ALL) | Equity | -9.13% | 5,235,375 | 2.33% | $237.94 | $253.06 | $1,245,710,165 | $1,324,863,998 | +$79,153,833 | +6.35% |
| American Water Works Company Inc. (AWK) | Equity | +38.44% | 8,903,133 | 2.20% | $131.58 | $137.77 | $1,171,476,990 | $1,226,584,633 | +$55,107,643 | +4.70% |
| ASML Holding N.V. (ASML) | Equity | +100% | 540 | 0.00% | $2,009.29 | $1,621.95 | $1,085,017 | $875,853 | -$209,164 | -19.28% |
| Alphabet Inc. (GOOG) | Equity | +8948.44% | 63,882 | 0.04% | $353.33 | $341.69 | $22,571,437 | $21,827,521 | -$743,916 | -3.30% |
| Amazon.com Inc. (AMZN) | Equity | +39926.08% | 573,974 | 0.26% | $238.34 | $251.10 | $136,800,906 | $144,124,871 | +$7,323,965 | +5.35% |
| Anheuser Busch Inbev NV (BUD) | Equity | +13420.88% | 918,338 | 0.14% | $82.40 | $78.80 | $75,671,518 | $72,365,034 | -$3,306,484 | -4.37% |
| Astrazeneca PLC (AZN) | Equity | +0.10% | 45,569 | 0.02% | $187.45 | $165.81 | $8,541,695 | $7,555,568 | -$986,127 | -11.54% |
| Bristol-Myers Squibb Company (BMY) | Equity | +107.64% | 96,264 | 0.01% | $57.62 | $63.03 | $5,546,732 | $6,067,039 | +$520,307 | +9.38% |
| Chevron Corp. (CVX) | Equity | -57.90% | 4,321,814 | 1.34% | $165.76 | $211.21 | $716,387,313 | $912,810,335 | +$196,423,022 | +27.42% |
| The Coca-Cola Company (KO) | Equity | -12.93% | 18,389,277 | 2.80% | $81.27 | $88.09 | $1,494,497,939 | $1,619,819,465 | +$125,321,526 | +8.39% |
| Diamondback Energy Inc. (FANG) | Equity | +100% | 587,036 | 0.19% | $175.78 | $195.00 | $103,192,084 | $114,472,020 | +$11,279,936 | +10.93% |
| Exxon Mobil Corp. (XOM) | Equity | +153.30% | 16,877,523 | 4.32% | $136.72 | $162.67 | $2,307,497,463 | $2,745,466,666 | +$437,969,203 | +18.98% |
| Hsbc Holdings PLC (HSBC) | Equity | +100% | 37,717 | 0.01% | $95.10 | $102.89 | $3,587,000 | $3,880,514 | +$293,514 | +8.18% |
| Ishares MSCI Acwi ETF (ACWI) | Equity | -48.86% | 13,470 | 0.00% | $156.98 | $159.51 | $2,114,487 | $2,148,600 | +$34,113 | +1.61% |
| The Kroger Co. (KR) | Equity | -99.73% | 34,235 | 0.00% | $55.53 | $60.80 | $1,901,088 | $2,081,488 | +$180,400 | +9.49% |
| Netease Inc. (NTES) | Equity | +100% | 1,226,473 | 0.29% | $128.14 | $116.88 | $157,160,250 | $143,344,032 | -$13,816,218 | -8.79% |
| Omnicom Group Inc. (OMC) | Equity | +100% | 45,743 | 0.01% | $72.83 | $79.08 | $3,331,463 | $3,617,128 | +$285,665 | +8.57% |
| PPL Corp. (PPL) | Equity | -57.63% | 146,588 | 0.01% | $36.35 | $33.61 | $5,328,481 | $4,926,090 | -$402,391 | -7.55% |
| Sanofi (SNY) | Equity | -40.72% | 97,640 | 0.01% | $42.66 | $43.08 | $4,165,322 | $4,205,843 | +$40,521 | +0.97% |
| State Street Corp. (STT) | Equity | +100% | 1,106,046 | 0.35% | $169.60 | $184.20 | $187,588,074 | $203,734,779 | +$16,146,705 | +8.61% |
| Unilever PLC (UL) | Equity | -7.74% | 8,673,777 | 0.98% | $60.12 | $62.17 | $521,467,466 | $539,248,716 | +$17,781,250 | +3.41% |
| Autodesk Inc. (ADSK) | Equity | +100% | 1,180 | 0.00% | $194.46 | $218.67 | $229,464 | $258,031 | +$28,567 | +12.45% |
| Bp P.L.C. (BP) | Equity | +158.82% | 14,138,369 | 0.98% | $36.95 | $45.63 | $522,413,270 | $645,133,777 | +$122,720,507 | +23.49% |
| Centerpoint Energy Inc. (CNP) | Equity | -15.44% | 4,009,382 | 0.33% | $44.04 | $38.52 | $176,573,746 | $154,421,348 | -$22,152,398 | -12.55% |
| CMS Energy Corp. (CMS) | Equity | +7.65% | 4,750,161 | 0.68% | $76.50 | $66.24 | $363,387,746 | $314,626,914 | -$48,760,832 | -13.42% |
| Devon Energy Corp. (DVN) | Equity | -39.75% | 9,742,444 | 0.75% | $41.32 | $48.47 | $402,558,480 | $472,216,261 | +$69,657,781 | +17.30% |
| Exelon Corp. (EXC) | Equity | -11.14% | 19,796,580 | 1.73% | $46.62 | $42.53 | $922,917,399 | $841,948,547 | -$80,968,852 | -8.77% |
| The Hershey Company (HSY) | Equity | +100% | 2,766,786 | 0.91% | $175.45 | $170.16 | $485,436,282 | $470,782,472 | -$14,653,810 | -3.02% |
| Intuitive Surgical Inc. (ISRG) | Equity | +100% | 780,428 | 0.58% | $397.69 | $387.24 | $310,368,786 | $302,212,939 | -$8,155,847 | -2.63% |
| Johnson & Johnson (JNJ) | Equity | -99.66% | 25,158 | 0.01% | $253.97 | $268.08 | $6,389,393 | $6,744,357 | +$354,964 | +5.56% |
| Meta Platforms Inc. (META) | Equity | +100% | 591,397 | 0.62% | $563.29 | $677.92 | $333,128,261 | $400,919,854 | +$67,791,593 | +20.35% |
| National Grid PLC (NGG) | Equity | +1620.58% | 101,755 | 0.02% | $82.87 | $77.54 | $8,432,914 | $7,889,574 | -$543,340 | -6.44% |
| Old Republic International Corporation (ORI) | Equity | -50.15% | 1,760,732 | 0.14% | $40.92 | $40.76 | $72,049,828 | $71,767,436 | -$282,392 | -0.39% |
| Philip Morris International Inc. (PM) | Equity | -9.32% | 45,436,985 | 15.40% | $180.91 | $189.64 | $8,220,008,114 | $8,616,442,650 | +$396,434,536 | +4.82% |
| Royal Bank Of Canada (RY) | Equity | 0% | 3,059 | 0.00% | $206.97 | $203.72 | $633,121 | $623,179 | -$9,942 | -1.57% |
| SPDR Gold Shares (GLD) | Equity | +393.16% | 13,626 | 0.01% | $368.38 | $399.60 | $5,019,546 | $5,444,950 | +$425,404 | +8.47% |
| The Travelers Companies Inc. (TRV) | Equity | +100% | 2,390,090 | 1.48% | $330.12 | $378.04 | $789,023,639 | $903,549,624 | +$114,525,985 | +14.51% |
| Xcel Energy Inc. (XEL) | Equity | -0.79% | 11,104,441 | 1.67% | $80.30 | $73.64 | $891,688,246 | $817,731,035 | -$73,957,211 | -8.29% |
| Valero Energy Corp. (VLO) | Equity | -21.60% | 26,587 | 0.01% | $260.44 | $409.88 | $6,924,319 | $10,897,480 | +$3,973,161 | +57.38% |
| Visa Inc. (V) | Equity | -48.30% | 639 | 0.00% | $342.96 | $371.79 | $219,154 | $237,574 | +$18,420 | +8.40% |