GQG Partners, an Australia-listed investment firm, increased its shares of Nvidia Corp, the leading chipmaker, in the second quarter of 2023, according to regulatory filings on Friday. The firm ended June with $5.9 billion invested in Nvidia, up from $3.8 billion in March1.
Nvidia is one of the most valuable companies in the world, with a market capitalization of over $1 trillion. The company is known for its advancements in artificial intelligence, gaming, and cloud computing. Nvidia’s stock has surged about 180% year to date, outperforming its peers and the broader market1.
Rajiv Jain, the chief investment officer of GQG Partners, told Reuters in June that he had been meaningfully increasing the firm’s position in Nvidia, as he believed the stock had room for more gains. He said that Nvidia had a “unique” and “dominant” position in the AI industry, and that its growth prospects were “phenomenal”2.
GQG Partners adds Amazon and other megacaps to its portfolio
Besides Nvidia, GQG Partners also built a new position in Amazon.com Inc, the e-commerce giant, of roughly $2 billion in the second quarter. Amazon is another trillion-dollar company that has been growing rapidly amid the pandemic and beyond. Amazon’s revenue rose 27% year over year to $113.1 billion in the second quarter, beating analysts’ expectations3.
GQG Partners also increased its existing positions in some of the other so-called “magnificent seven” megacap stocks: Alphabet Inc, Apple Inc, and Microsoft Corp. These are the largest and most influential companies in the tech sector, with combined market values of over $10 trillion. They have also delivered strong earnings results in the second quarter, driven by robust demand for their products and services.
GQG Partners manages $108 billion in assets
GQG Partners is a global investment management firm that focuses on quality growth equities. The firm was founded in 2016 by Rajiv Jain, who previously worked at Vontobel Asset Management as the head of global and international equities. GQG Partners has offices in Fort Lauderdale, Seattle, New York, London, Singapore, and Sydney.
As of June 30, 2023, GQG Partners managed $108 billion in assets across various strategies, including global equity, international equity, emerging markets equity, US equity, and global ex-US equity. The firm’s clients include institutional investors, financial advisors, family offices, and individual investors.
