GQG Partners Trims Stakes in Adani Group Companies by ₹8,000 Crore in September 2026 Quarter

GQG Partners cut its holdings in five Adani Group companies during the September quarter of 2026, with the value of its investments falling by around ₹8,000 crore, as per The Economic Times news report.  

The US-based investment firm’s reductions came as foreign portfolio investors (FPIs) changed their holdings across the group, buying shares in some companies and selling in others. 

At the end of September, GQG’s Adani Group holdings were valued at ₹39,270 crore, down from ₹47,290 crore at the end of June. The difference amounted to ₹8,020 crore over the quarter. 

Adani Energy Solutions Sees Sharpest Cut 

GQG reduced its stake in Adani Energy Solutions to 1.71% in September from 4.14% in June 2026. This was the biggest reduction in its holdings among the group’s companies during the quarter. 

The selling follows estimated stake reductions worth ₹13,200 crore in the first half of 2026. Between January and June, GQG’s largest reduction was in Adani Enterprises, where the estimated value of the stake sold was ₹6,375 crore. Adani Green Energy and Adani Power followed. 

Founded by Rajiv Jain, GQG manages more than $156 billion in assets. The firm attracted attention in 2023 when it bought stakes in Adani Group companies during a sell-off following allegations by US short-seller Hindenburg Research. 

Foreign Investors Increase Holdings in Three Stocks 

FPI holdings rose in Adani Enterprises, Adani Ports and Adani Total Gas during the September 2026 quarter. However, foreign investors reduced their stakes in Adani Power, Adani Green Energy, and Adani Energy Solutions. 

The changes show that foreign investor holdings varied across the group’s companies during the three-month period, rather than moving in one direction. 

Mutual Funds Take Different Positions 

Mutual fund holdings also changed across the group. Their stakes fell in Adani Enterprises, Adani Ports, and Ambuja Cements, while holdings increased in Adani Energy Solutions, Adani Power and Adani Green Energy. 

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Conclusion 

GQG continued to reduce its Adani Group holdings in the September quarter, following estimated sales of ₹13,200 crore in the first half of 2026. FPI and mutual fund holdings showed a mixed pattern across individual companies. 

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