Fairtree Asset Management (Pty) Ltd

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Fairtree Asset Management (Pty) Ltd reported 103 stock positions worth $124.3 million. Its top holding was JSC Kaspi.kz ADR (KSPI) at 7.3% of the portfolio, followed by Freeport-McMoran (FCX, 5.6%) and PDD (PDD, 5.2%). Compared with Q4 2024, it opened 18 new positions, sold out of 11, added to 37 and reduced 25. The biggest buy was a new position in Freeport-McMoran (FCX) and the biggest sale Barrick Gold (B, shares −81%).

Most Recent 13F
Q2 2026
Location
BELLVILLE, T3
CIK
0002059365
Portfolio Value
$124.3M (Q1 2025)
SEC Filing
0002059365-25-000003 ↗ filed May 15, 2025

Holdings Value

0$100.0M$200.0M$300.0M Q4 2024: $104.5M Q4 2024 Q1 2025: $124.3M $124.3M Q1 2025 Q2 2025: $132.6M Q2 2025 Q3 2025: $152.7M Q3 2025 Q4 2025: $217.3M Q4 2025 Q1 2026: $217.8M Q1 2026 Q2 2026: $260.9M Q2 2026

Holdings 103 stocks · $124.3M
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 7.28% 97,480 $9.1M Add +20.3%
FCX Freeport-McMoran Inc. 5.57% 182,960 $6.9M New
PDD PDD Holdings Inc. 5.22% 54,833 $6.5M Reduce -3.8%
JD Jd.com Inc.-ADR 5.07% 153,125 $6.3M Add +6.7%
MSFT Microsoft Corp. 5.07% 16,773 $6.3M Add +58.8%
GOVT iShares US Treasury Bond ETF 4.72% 255,067 $5.9M Add +10.0%
GOOG Alphabet Inc. Class C 4.32% 34,400 $5.4M Add +40.6%
BABA Alibaba Group Holding-SP ADR 4.16% 39,081 $5.2M Reduce -32.1%
AMZN Amazon.com Inc. 2.81% 18,383 $3.5M Add +32.5%
NVDA Nvidia Corp. 2.00% 22,949 $2.5M Add +381.9%
AAPL Apple Inc. 1.86% 10,428 $2.3M Reduce -6.5%
META Meta Platforms Inc. Class A 1.83% 3,939 $2.3M Add +38.5%
QCOM Qualcomm Inc. 1.70% 13,723 $2.1M Add +23.7%
TMO Thermo Fisher Scientific Inc. 1.53% 3,811 $1.9M Add +64.1%
ADBE Adobe Inc. 1.48% 4,788 $1.8M Add +28.4%
CROX Crocs Inc. 1.29% 15,149 $1.6M Reduce -21.9%
PLD Prologis Inc. 1.26% 14,011 $1.6M No change
UNH Unitedhealth Group Inc. 1.09% 2,593 $1.4M Reduce -1.6%
ROST Ross Stores Inc. 1.04% 10,071 $1.3M Add +133.2%
AVGO Broadcom Inc. 1.03% 7,635 $1.3M Add +131.1%
SNPS Synopsys Inc. 1.00% 2,886 $1.2M Add +53.4%
CNC Centene Corp. 0.92% 18,888 $1.1M Add +84.3%
REXR Rexford Industrial Realty Inc. 0.90% 28,486 $1.1M Add +76.8%
DLR Digital Realty Trust Inc. 0.88% 7,629 $1.1M No change
ELV Elevance Health Inc. 0.88% 2,512 $1.1M Reduce -10.1%
SYY Sysco Corp. 0.86% 14,197 $1.1M Add +67.6%
O Realty Income Corp. 0.84% 18,018 $1.0M Reduce -23.9%
AMAT Applied Materials Inc. 0.79% 6,730 $977K Add +144.2%
CPT Camden Property Trust 0.75% 7,637 $934K No change
MSCI MSCI Inc. 0.74% 1,635 $925K Add +37.0%
KLAC KLA Corp. 0.74% 1,357 $922K Add +90.1%
BKNG Booking Holdings Inc. 0.74% 200 $921K Add +96.1%
IQV Iqvia Holdings Inc. 0.74% 5,219 $920K Add +104.0%
KO The Coca-Cola Co. 0.71% 12,374 $886K Reduce -60.0%
ORCL Oracle Corp. 0.71% 6,290 $879K New
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.71% 12,251 $877K No change
SPGI S&P Global Inc. 0.69% 1,697 $862K Add +117.6%
MCK McKesson Corp. 0.65% 1,204 $810K Reduce -11.7%
JPM JPMorgan Chase & Co. 0.65% 3,293 $808K New
DOC Healthpeak Properties Inc. 0.65% 39,861 $806K No change
EW Edwards Lifesciences Corp. 0.65% 11,091 $804K Reduce -23.7%
MA Mastercard Inc. Class A 0.64% 1,455 $798K Add +68.4%
CUBE Cubesmart 0.62% 17,924 $766K No change
EME Emcor Group Inc. 0.58% 1,965 $726K Add +36.7%
MRK Merck & Co. Inc. 0.58% 8,011 $719K New
KIM Kimco Realty Corp. 0.57% 33,557 $713K No change
RJF Raymond James Financial Inc. 0.57% 5,067 $704K New
B Barrick Gold Corp. 0.55% 35,296 $686K Reduce -80.9%
JNJ Johnson & Johnson 0.54% 4,065 $674K Reduce -33.4%
GPN Global Payments Inc. 0.53% 6,767 $663K New
AMD Advanced Micro Devices 0.53% 6,390 $657K Add +16.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.52% 6,583 $650K Add +73.2%
ABNB Airbnb Inc. Class A 0.51% 5,302 $633K Add +61.7%
RMD Resmed Inc. 0.51% 2,809 $629K New
ULTA Ulta Beauty Inc. 0.51% 1,713 $628K Add +11.5%
FERG Ferguson Enterprises Inc. 0.50% 3,868 $620K New
BXP BXP Inc. 0.49% 9,150 $615K No change
HCA HCA Healthcare Inc. 0.49% 1,754 $606K New
VRT Vertiv Holdings Co. Class A 0.48% 8,189 $591K New
VALE Vale SA-SP ADR 0.47% 59,090 $590K Reduce -24.3%
MELI MercadoLibre Inc. 0.47% 297 $579K New
UTHR United Therapeutics Corp. 0.45% 1,831 $564K New
TOL Toll Brothers Inc. 0.45% 5,328 $563K New
FTNT Fortinet Inc. 0.45% 5,755 $554K Reduce -14.1%
PG The Procter & Gamble Co. 0.44% 3,211 $547K Add +11.0%
BRX Brixmor Property Group Inc. 0.43% 19,929 $529K No change
DHI D.R. Horton Inc. 0.42% 4,081 $519K Add +43.6%
MU Micron Technology Inc. 0.41% 5,834 $507K Reduce -11.3%
BRK.B Berkshire Hathaway Inc. Class B 0.41% 948 $505K No change
COR Cencora Inc. 0.40% 1,799 $500K New
CAT Caterpillar Inc. 0.40% 1,511 $498K Add +34.4%
DPZ Domino's Pizza Inc. 0.40% 1,077 $495K Reduce -45.6%
AXP American Express Co. 0.39% 1,783 $480K New
NDAQ Nasdaq Inc. 0.38% 6,300 $478K New
LPLA LPL Financial Holdings Inc. 0.38% 1,453 $475K New
BP BP PLC-Spons ADR 0.38% 13,871 $469K Reduce -66.0%
TCOM Trip.com Group Ltd.-ADR 0.38% 7,371 $469K New
SKX Skechers USA Inc. Class A 0.36% 7,847 $446K Reduce -28.8%
MAC The Macerich Co. 0.36% 25,861 $444K No change
BNL Broadstone Net Lease Inc. 0.36% 26,051 $444K No change
V Visa Inc. Class A 0.36% 1,261 $442K Reduce -54.3%
CRM Salesforce Inc. 0.35% 1,632 $438K Add +26.7%
AOS Smith (a.o.) Corp. 0.35% 6,660 $435K Reduce -11.8%
KRC Kilroy Realty Corp. 0.34% 12,838 $421K No change
LLY Eli Lilly & Co. 0.34% 506 $418K Add +13.2%
GLPI Gaming and Leisure Propertie 0.32% 7,904 $402K No change
EQIX Equinix Inc. 0.32% 490 $400K No change
ATKR Atkore Inc. 0.32% 6,624 $397K Reduce -13.5%
ENSG The Ensign Group Inc. 0.31% 2,992 $387K Add +7.5%
EPAM Epam Systems Inc. 0.30% 2,209 $373K Add +24.7%
EXR Extra Space Storage Inc. 0.28% 2,380 $353K No change
EWY iShares MSCI South Korea ETF 0.19% 4,332 $234K No change
FMX Fomento Economico Mex-SP ADR 0.18% 2,334 $228K Reduce -10.3%
TSM Taiwan Semiconductor-SP ADR 0.17% 1,279 $212K Reduce -81.5%
INDA iShares MSCI India ETF 0.17% 4,094 $211K No change
INFY Infosys Ltd.-SP ADR 0.17% 11,400 $208K Add +91.6%
KSA Ishrs MSCI Saudi Arabia ETF 0.17% 4,990 $206K No change
HDB HDFC Bank Ltd.-ADR 0.13% 2,394 $159K No change
BIDU Baidu Inc. - Spon ADR 0.13% 1,724 $159K Reduce -62.9%
EWT iShares MSCI Taiwan ETF 0.12% 3,228 $153K No change

Show all 103 holdings

Portfolio Sells Q4 2024 → Q1 2025
B Barrick Gold Corp. Reduce -80.9% 0.55% −2.19
TSM Taiwan Semiconductor-SP ADR Reduce -81.5% 0.17% −1.14
KO The Coca-Cola Co. Reduce -60.0% 0.71% −1.13
GFI Gold Fields Ltd.-Spons ADR Sold out 0.00% −0.87
AAPL Apple Inc. Reduce -6.5% 1.86% −0.81
BP BP PLC-Spons ADR Reduce -66.0% 0.38% −0.78
CROX Crocs Inc. Reduce -21.9% 1.29% −0.74
PEP Pepsico Inc. Sold out 0.00% −0.68
ABT Abbott Laboratories Sold out 0.00% −0.63
AMGN Amgen Inc. Sold out 0.00% −0.56
PBR Petroleo Brasileiro-Spon ADR Reduce -87.2% 0.08% −0.56
HUM Humana Inc. Sold out 0.00% −0.53
BMY Bristol-Myers Squibb Co. Sold out 0.00% −0.53
BABA Alibaba Group Holding-SP ADR Reduce -32.1% 4.16% −0.51
V Visa Inc. Class A Reduce -54.3% 0.36% −0.48
LULU Lululemon Athletica Inc. Sold out 0.00% −0.48
STZ Constellation Brands Inc. Class A Sold out 0.00% −0.44
MDLZ Mondelez International Inc. Class A Sold out 0.00% −0.42
DPZ Domino's Pizza Inc. Reduce -45.6% 0.40% −0.40
EW Edwards Lifesciences Corp. Reduce -23.7% 0.65% −0.38
O Realty Income Corp. Reduce -23.9% 0.84% −0.37
SKX Skechers USA Inc. Class A Reduce -28.8% 0.36% −0.35
ZTS Zoetis Inc. Sold out 0.00% −0.35
JNJ Johnson & Johnson Reduce -33.4% 0.54% −0.30
ATKR Atkore Inc. Reduce -13.5% 0.32% −0.29
BIDU Baidu Inc. - Spon ADR Reduce -62.9% 0.13% −0.25
VALE Vale SA-SP ADR Reduce -24.3% 0.47% −0.19
UNH Unitedhealth Group Inc. Reduce -1.6% 1.09% −0.18
FTNT Fortinet Inc. Reduce -14.1% 0.45% −0.16
AOS Smith (a.o.) Corp. Reduce -11.8% 0.35% −0.14
EWZ iShares MSCI Brazil ETF Sold out 0.00% −0.13
MU Micron Technology Inc. Reduce -11.3% 0.41% −0.12
ELV Elevance Health Inc. Reduce -10.1% 0.88% −0.11
MCK McKesson Corp. Reduce -11.7% 0.65% −0.09
PDD PDD Holdings Inc. Reduce -3.8% 5.22% −0.07
FMX Fomento Economico Mex-SP ADR Reduce -10.3% 0.18% −0.03

Portfolio Buys Q4 2024 → Q1 2025
FCX Freeport-McMoran Inc. New 5.57% +5.57
NVDA Nvidia Corp. Add +381.9% 2.00% +1.39
MSFT Microsoft Corp. Add +58.8% 5.07% +0.81
ORCL Oracle Corp. New 0.71% +0.71
JPM JPMorgan Chase & Co. New 0.65% +0.65
MRK Merck & Co. Inc. New 0.58% +0.58
RJF Raymond James Financial Inc. New 0.57% +0.57
GPN Global Payments Inc. New 0.53% +0.53
RMD Resmed Inc. New 0.51% +0.51
FERG Ferguson Enterprises Inc. New 0.50% +0.50
HCA HCA Healthcare Inc. New 0.49% +0.49
VRT Vertiv Holdings Co. Class A New 0.48% +0.48
MELI MercadoLibre Inc. New 0.47% +0.47
UTHR United Therapeutics Corp. New 0.45% +0.45
TOL Toll Brothers Inc. New 0.45% +0.45
ROST Ross Stores Inc. Add +133.2% 1.04% +0.41
COR Cencora Inc. New 0.40% +0.40
AXP American Express Co. New 0.39% +0.39
NDAQ Nasdaq Inc. New 0.38% +0.38
LPLA LPL Financial Holdings Inc. New 0.38% +0.38
TCOM Trip.com Group Ltd.-ADR New 0.38% +0.38
TMO Thermo Fisher Scientific Inc. Add +64.1% 1.53% +0.37
AMAT Applied Materials Inc. Add +144.2% 0.79% +0.36
CNC Centene Corp. Add +84.3% 0.92% +0.33
SPGI S&P Global Inc. Add +117.6% 0.69% +0.32
KLAC KLA Corp. Add +90.1% 0.74% +0.31
JD Jd.com Inc.-ADR Add +6.7% 5.07% +0.31
REXR Rexford Industrial Realty Inc. Add +76.8% 0.90% +0.30
AVGO Broadcom Inc. Add +131.1% 1.03% +0.30
IQV Iqvia Holdings Inc. Add +104.0% 0.74% +0.26
BKNG Booking Holdings Inc. Add +96.1% 0.74% +0.26
SYY Sysco Corp. Add +67.6% 0.86% +0.24
META Meta Platforms Inc. Class A Add +38.5% 1.83% +0.23
MA Mastercard Inc. Class A Add +68.4% 0.64% +0.21
SNPS Synopsys Inc. Add +53.4% 1.00% +0.12
DIS The Walt Disney Co. Add +73.2% 0.52% +0.12
ABNB Airbnb Inc. Class A Add +61.7% 0.51% +0.10
QCOM Qualcomm Inc. Add +23.7% 1.70% +0.07
MSCI MSCI Inc. Add +37.0% 0.74% +0.06
INFY Infosys Ltd.-SP ADR Add +91.6% 0.17% +0.04
DHI D.R. Horton Inc. Add +43.6% 0.42% +0.04
CAT Caterpillar Inc. Add +34.4% 0.40% +0.01
LLY Eli Lilly & Co. Add +13.2% 0.34% +0.01
PG The Procter & Gamble Co. Add +11.0% 0.44% −0.02
EME Emcor Group Inc. Add +36.7% 0.58% −0.04
ENSG The Ensign Group Inc. Add +7.5% 0.31% −0.04
KSPI JSC Kaspi.kz ADR Add +20.3% 7.28% −0.06
CRM Salesforce Inc. Add +26.7% 0.35% −0.06
EPAM Epam Systems Inc. Add +24.7% 0.30% −0.10
AMZN Amazon.com Inc. Add +32.5% 2.81% −0.10

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 96$260.9MMSFT, NVDA, AMZN, GOOG, KSPI
Q1 2026 96$217.8MMSFT, NVDA, AMZN, KSPI, GOOG
Q4 2025 101$217.3MMSFT, KSPI, AMZN, GOOG, NVDA
Q3 2025 94$152.7MKSPI, MSFT, GOOG, GOVT, JD
Q2 2025 93$132.6MKSPI, MSFT, GOOG, GOVT, JD
Q1 2025 103$124.3MKSPI, FCX, PDD, JD, MSFT
Q4 2024Amended 96$104.5MKSPI, PDD, GOVT, JD, BABA