The authors assess the uptake, transport, and storage of oceanic anthropogenic carbon and heat over the period 1861–2005 in a new set of coupled carbon–climate Earth system models conducted for the fifth phase of the Coupled Model Intercomparison Project (CMIP5), with a particular focus on the Southern Ocean. Simulations show that the Southern Ocean south of 30°S, occupying 30% of global surface ocean area, accounts for 43% ± 3% (42 ± 5 Pg C) of anthropogenic CO₂ and 75% ± 22% (23 ± 9 × 1022J) of heat uptake by the ocean over the historical period. Northward transport out of the Southern Ocean is vigorous, reducing the storage to 33 ± 6 Pg anthropogenic carbon and 12 ± 7 × 1022J heat in the region. The CMIP5 models, as a class, tend to underestimate the observation-based global anthropogenic carbon storage but simulate trends in global ocean heat storage over the last 50 years within uncertainties of observation-based estimates. CMIP5 models suggest global and Southern Ocean CO₂ uptake have been largely unaffected by recent climate variability and change. Anthropogenic carbon and heat storage show a common broad-scale pattern of change, but ocean heat storage is more structured than ocean carbon storage. The results highlight the significance of the Southern Ocean for the global climate and as the region where models differ the most in representation of anthropogenic CO₂ and, in particular, heat uptake.