Orbis Allan Gray Ltd

CIK 0001663865 · Q2 2026

13F Equity AUM

$29.1B

+22.8% QoQ

Positions

+6 QoQ

AUM Rank

#265

Top 3%

Skill Alpha (FF)

+2.7%/yr^ns

No Clear Edge

Rank #1,145 · Top 14%

vs S&P +0.4%/yr (unadj.)

Quarters Tracked

~10 years

Portfolio Concentration

Top 5: 24.9%Top 10: 39.9%Top 20: 60.4%

CPAY6.2%

YNDX6.2%

BKNG4.4%

QXO4.4%

BRKR3.7%

RXO3.5%

MSI3.4%

GOOGL2.9%

EQT2.9%

XPO2.4%

Others (87)60.1%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare16.6%

Industrials16.2%

Technology14.1%

Communication Services13.0%

Energy9.6%

Consumer Cyclical8.2%

Financial Services6.6%

Basic Materials6.5%

Other9.3%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 97Median: 0.59%Avg: 1.03%

0–0.5%

43(6.7%)

0.5–1%

19(13.6%)

1–3%

28(48.0%)

3–5%

5(19.4%)

5%+

2(12.4%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 97vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New12Increased45Decreased32Exited6

New Positions

BRO1.2%

+5.4M

RYAN0.8%

+6.3M

NEWAMSTERDAM PHARMA …0.2%

+1.7M

UNH0.2%

+134K

QXO 5.5 05/15/280.1%

+569K

CLBT0.1%

+1.7M

GENI0.1%

+3.8M

SATS0.1%

+214K

HWM0.1%

+60K

BRK/B0.1%

+32K

Increased

AAL1.0%

+13.9M(+635%)

BVXB2.3%

+12.0M(+17%)

HDB0.8%

+7.7M(+428%)

BKNG4.4%

+7.1M(+9648%)

SHEL2.4%

+4.7M(+115%)

NU0.5%

+4.5M(+82%)

IM8N2.2%

+4.2M(+224%)

RRC0.9%

+4.0M(+147%)

PDD1.4%

+3.6M(+207%)

EQT2.9%

+3.6M(+30%)

Decreased

CX1.2%

-8,837,725(-24%)

SW0.9%

-7,893,567(-57%)

VALE0.7%

-5,104,555(-26%)

UEO0.5%

-3,209,155(-61%)

PTLO0.1%

-2,896,948(-41%)

YNDX6.2%

-1,820,047(-22%)

VIPS0.2%

-1,622,455(-31%)

GMAB1.1%

-1,557,417(-12%)

SE0.2%

-1,330,862(-72%)

MICC0.2%

-1,142,459(-27%)

Exited

-12,247,581

-360,611

-900,180

-774,529

-190,705

-45,512

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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