The GQG Partners portfolio
A concentrated book that changes its mind in public, and one of the largest disclosed Petrobras positions of any US filer.
SourceSEC Form 13F filings (US)Holdings as of 30 Jun 2026
The +15.6% above is what these weights would have done over 12 months. It is not GQG Partners's return.
GQG Partners was founded in 2016 and runs global and emerging-market equity strategies from Florida. These are the listed positions from its latest filing.
GQG was built by Rajiv Jain after twenty years running international equities at another firm. What defines it is concentration: a handful of names carry almost the whole portfolio, and the top position has at times been worth more than the entire bottom half combined. It is deliberate. The view is that a manager should hold its best ideas in size, rather than spread the risk until it disappears.
The second trait is turnover. GQG drops an idea the moment it stops believing in it, with unusual ease. Its quarter-to-quarter changes are enormous for a manager that only buys shares. A buy-and-hold investor is judged on patience. This firm is judged on how quickly it stops being wrong. Both approaches work, but they fail in different ways.
For a Latin American reader the interesting part is not the emerging markets label, but what sits behind it. GQG has held one of the largest disclosed positions in Petrobras among US managers, alongside energy and consumer companies a growth fund would normally avoid. It is a reminder that the region enters institutional portfolios as specific companies, not as a bloc.
Positions come from the 13F form the firm files with the SEC each quarter. It covers only long positions in US-listed stocks: the firm's holdings on other exchanges, and anything held outside the reporting entity, do not appear on that form.
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