Ninety One North America, Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), Ninety One North America, Inc. reported 102 stock positions worth $2.5 billion. Its top holding was Visa Class A (V) at 6.2% of the portfolio, followed by Alphabet Class A (GOOGL, 5.4%) and Microsoft (MSFT, 5.0%). Compared with Q3 2025, it opened 38 new positions, sold out of 6, added to 39 and reduced 24. The biggest buy was Alphabet Class A (GOOGL, shares +14%) and the biggest sale an exit from Sea Ltd.-ADR (SE).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001633343
Portfolio Value
$2.5B (Q4 2025)
SEC Filing
0001140361-26-002461 ↗ filed Jan 27, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $2.1B Q1 2024 Q2 2024: $2.0B Q2 2024 Q3 2024: $1.5B Q3 2024 Q4 2024: $1.6B Q4 2024 Q1 2025: $1.5B Q1 2025 Q2 2025: $2.0B Q2 2025 Q3 2025: $2.2B Q3 2025 Q4 2025: $2.5B $2.5B Q4 2025 Q1 2026: $2.2B Q1 2026 Q2 2026: $2.1B Q2 2026

Holdings 102 stocks · $2.5B
V Visa Inc. Class A 6.23% 438,344 $153.7M Add +1.5%
GOOGL Alphabet Inc. Class A 5.41% 426,416 $133.5M Add +14.1%
MSFT Microsoft Corp. 5.04% 257,310 $124.4M Reduce -6.0%
PM Philip Morris International 4.59% 706,366 $113.3M Add +1.7%
MA Mastercard Inc. Class A 3.81% 164,735 $94.0M Add +14.0%
ADSK Autodesk Inc. 3.65% 304,051 $90.0M Add +2.7%
BKNG Booking Holdings Inc. 3.47% 16,005 $85.7M Add +1.8%
ICLR Icon PLC 3.36% 455,399 $83.0M Add +2.8%
TSM Taiwan Semiconductor-SP ADR 3.17% 257,068 $78.1M Reduce -16.0%
INTU Intuit Inc. 2.92% 108,831 $72.1M Add +1.8%
NTES Netease Inc.-ADR 2.79% 500,241 $68.8M Add +3.4%
EA Electronic Arts Inc. 2.75% 332,602 $68.0M Add +3.0%
AON Aon PLC Class A 2.52% 176,485 $62.3M Add +21.5%
INDA iShares MSCI India ETF 2.43% 1,107,777 $59.9M Add +29.7%
ALC Alcon Inc. filed as ALCON AG 2.36% 728,305 $58.2M Add +4.1%
JNJ Johnson & Johnson 2.33% 278,252 $57.6M Add +15.6%
MRSH Marsh & McLennan Cos 2.01% 267,244 $49.6M Add +172.6%
EW Edwards Lifesciences Corp. 1.96% 567,944 $48.4M Add +3.0%
BAP Credicorp Ltd. 1.94% 166,814 $47.9M Add +9.9%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 1.87% 2,755,386 $46.1M Add +22.5%
VALE Vale SA-SP ADR 1.78% 3,361,779 $43.8M Reduce -0.5%
ADP Automatic Data Processing 1.70% 162,873 $41.9M Add +0.3%
MSI Motorola Solutions Inc. 1.68% 108,400 $41.6M Add +87.3%
VRSN Verisign Inc. 1.57% 158,934 $38.6M Add +3.3%
CHKP Check Point Software Tech 1.53% 203,646 $37.8M Add +1.8%
SPGI S&P Global Inc. 1.47% 69,447 $36.3M Add +1.6%
MNST Monster Beverage Corp. 1.44% 464,682 $35.6M Reduce -11.1%
MCO Moody's Corp. 1.36% 65,473 $33.4M Add +1.6%
TX Ternium SA-Sponsored ADR 1.22% 785,653 $30.0M Reduce -15.6%
NVDA Nvidia Corp. 1.15% 152,128 $28.4M New
ALGN Align Technology Inc. 1.07% 169,028 $26.4M Add +1.8%
FDS Factset Research Systems Inc. 1.01% 86,179 $25.0M Add +1.8%
VIST Vista Energy Sab DE CV 0.95% 483,830 $23.5M Reduce -0.8%
XP XP Inc. Class A 0.95% 1,435,950 $23.5M Add +15.8%
STNE Stoneco Ltd. Class A 0.95% 1,580,941 $23.4M Reduce -0.8%
NEE Nextera Energy Inc. 0.92% 284,236 $22.8M Reduce -16.6%
IBN Icici Bank Ltd.-Spon ADR 0.70% 582,037 $17.3M Add +45.2%
TEL Te Connectivity PLC 0.70% 75,921 $17.3M Reduce -7.4%
CP Canadian Pacific Kansas City 0.66% 220,134 $16.2M Add +2.1%
AVGO Broadcom Inc. 0.58% 41,182 $14.3M New
TTEK Tetra Tech Inc. 0.56% 415,535 $13.9M Add +2.8%
ACM Aecom 0.53% 137,801 $13.1M Add +2.9%
TKO Tko Group Holdings Inc. 0.53% 62,231 $13.0M New
KGC Kinross Gold Corp. 0.50% 440,414 $12.4M Reduce -18.6%
AMZN Amazon.com Inc. 0.48% 51,721 $11.9M New
AGCO Agco Corp. 0.43% 100,693 $10.5M Add +2.9%
EEM iShares MSCI Emerging Market 0.41% 186,696 $10.2M Add +23.8%
WM Waste Management Inc. 0.39% 44,160 $9.7M Add +2.8%
TRMB Trimble Inc. 0.39% 122,272 $9.6M New
VMI Valmont Industries 0.38% 23,228 $9.3M New
JPM JPMorgan Chase & Co. 0.35% 26,814 $8.6M New
ASX Ase Technology Holding -ADR 0.31% 474,381 $7.6M Reduce -4.5%
BSX Boston Scientific Corp. 0.30% 77,718 $7.4M New
HDB HDFC Bank Ltd.-ADR 0.29% 198,771 $7.3M Reduce -0.7%
LLY Eli Lilly & Co. 0.29% 6,581 $7.1M New
AAPL Apple Inc. 0.28% 24,998 $6.8M New
UBS UBS Group AG-Reg 0.25% 134,367 $6.3M New
FTI Technipfmc PLC 0.25% 139,130 $6.2M Add +17.9%
CL Colgate-Palmolive Co. 0.24% 74,432 $5.9M New
B Barrick Mining Corp. 0.24% 134,473 $5.9M New
ABT Abbott Laboratories 0.23% 44,344 $5.6M Add +566.5%
GM General Motors Co. 0.22% 68,043 $5.5M New
CRH CRH PLC 0.22% 43,670 $5.5M New
TTWO Take-Two Interactive Softwre 0.22% 21,174 $5.4M New
AER Aercap Holdings NV 0.21% 35,546 $5.1M New
J Jacobs Solutions Inc. 0.20% 37,505 $5.0M New
GS Goldman Sachs Group Inc. 0.19% 5,235 $4.6M New
TRU Transunion 0.18% 52,351 $4.5M New
XOM Exxon Mobil Corp. 0.17% 35,878 $4.3M New
TMO Thermo Fisher Scientific Inc. 0.17% 7,342 $4.3M New
ICE Intercontinental Exchange Inc. 0.17% 25,737 $4.2M Add +299.7%
RACE Ferrari NV 0.17% 11,126 $4.2M Reduce -42.6%
CFG Citizens Financial Group 0.16% 69,448 $4.1M New
PLNT Planet Fitness Inc. Class A 0.16% 36,122 $3.9M New
Z Zillow Group Inc. Class C 0.15% 55,789 $3.8M New
BA The Boeing Co. 0.15% 16,831 $3.7M New
META Meta Platforms Inc. Class A 0.14% 5,408 $3.6M New
FCX Freeport-McMoran Inc. 0.13% 64,777 $3.3M New
SNX TD Synnex Corp. 0.13% 21,551 $3.2M New
PG The Procter & Gamble Co. 0.12% 20,401 $2.9M Reduce -24.3%
DAL Delta Air Lines Inc. 0.12% 41,414 $2.9M New
GLPI Gaming and Leisure Propertie 0.09% 51,266 $2.3M New
OKTA Okta Inc. 0.09% 26,425 $2.3M New
BROS Dutch Bros Inc. Class A 0.09% 35,423 $2.2M New
PINS Pinterest Inc. Class A 0.09% 83,397 $2.2M New
DASH DoorDash Inc. Class A 0.09% 9,402 $2.1M New
TW Tradeweb Markets Inc. Class A 0.08% 19,160 $2.1M New
ELV Elevance Health Inc. 0.07% 5,137 $1.8M New
HOOD Robinhood Markets Inc. Class A 0.07% 15,863 $1.8M New
ZTS Zoetis Inc. 0.07% 12,955 $1.6M Add +620.5%
BKLN Invesco Senior Loan ETF 0.04% 42,200 $886K No change
USHY iShares Broad Usd High Yield 0.03% 22,070 $825K Add +75.6%
KO The Coca-Cola Co. 0.02% 8,190 $573K Reduce -24.3%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.02% 1,891 $489K Reduce -24.3%
CME Cme Group Inc. 0.02% 1,747 $477K Reduce -24.3%
ROP Roper Technologies Inc. 0.01% 812 $361K Reduce -24.3%
EFX Equifax Inc. 0.01% 1,483 $322K Reduce -24.3%
OTIS Otis Worldwide Corp. 0.01% 3,122 $273K Reduce -24.3%
BR Broadridge Financial Solutio 0.01% 1,221 $272K Reduce -24.3%
STE Steris PLC 0.01% 987 $250K Reduce -24.3%
JKHY Jack Henry & Associates Inc. filed as HENRY JACK & ASSOC INC 0.00% 498 $91K Reduce -24.2%
CPNG Coupang Inc. 0.00% 717 $17K Reduce -99.9%

Portfolio Sells Q3 2025 → Q4 2025
SE Sea Ltd.-ADR Sold out 0.00% −3.02
CPNG Coupang Inc. Reduce -99.9% 0.00% −1.43
MSFT Microsoft Corp. Reduce -6.0% 5.04% −1.38
TSM Taiwan Semiconductor-SP ADR Reduce -16.0% 3.17% −0.71
MELI MercadoLibre Inc. Sold out 0.00% −0.50
STNE Stoneco Ltd. Class A Reduce -0.8% 0.95% −0.42
RACE Ferrari NV Reduce -42.6% 0.17% −0.26
TX Ternium SA-Sponsored ADR Reduce -15.6% 1.22% −0.25
NEE Nextera Energy Inc. Reduce -16.6% 0.92% −0.24
UAE iShares MSCI Uae ETF Sold out 0.00% −0.23
EMBJ Embraer SA-Spon ADR Sold out 0.00% −0.20
MNST Monster Beverage Corp. Reduce -11.1% 1.44% −0.15
TEL Te Connectivity PLC Reduce -7.4% 0.70% −0.12
KGC Kinross Gold Corp. Reduce -18.6% 0.50% −0.11
PG The Procter & Gamble Co. Reduce -24.3% 0.12% −0.07
ACN Accenture PLC Class A Sold out 0.00% −0.05
SRLN SS Blackstone Sr Loan ETF Sold out 0.00% −0.04
HDB HDFC Bank Ltd.-ADR Reduce -0.7% 0.29% −0.02
AJG Arthur J Gallagher & Co. Reduce -24.3% 0.02% −0.02
EFX Equifax Inc. Reduce -24.3% 0.01% −0.01
ROP Roper Technologies Inc. Reduce -24.3% 0.01% −0.01
KO The Coca-Cola Co. Reduce -24.3% 0.02% −0.01
CME Cme Group Inc. Reduce -24.3% 0.02% −0.01
BR Broadridge Financial Solutio Reduce -24.3% 0.01% −0.01
OTIS Otis Worldwide Corp. Reduce -24.3% 0.01% −0.01
STE Steris PLC Reduce -24.3% 0.01% −0.00
JKHY Jack Henry & Associates Inc. Reduce -24.2% 0.00% −0.00
ASX Ase Technology Holding -ADR Reduce -4.5% 0.31% +0.06
VALE Vale SA-SP ADR Reduce -0.5% 1.78% +0.11
VIST Vista Energy Sab DE CV Reduce -0.8% 0.95% +0.19

Portfolio Buys Q3 2025 → Q4 2025
GOOGL Alphabet Inc. Class A Add +14.1% 5.41% +1.29
NVDA Nvidia Corp. New 1.15% +1.15
MRSH Marsh & McLennan Cos Add +172.6% 2.01% +1.11
AVGO Broadcom Inc. New 0.58% +0.58
TKO Tko Group Holdings Inc. New 0.53% +0.53
MSI Motorola Solutions Inc. Add +87.3% 1.68% +0.48
AMZN Amazon.com Inc. New 0.48% +0.48
INDA iShares MSCI India ETF Add +29.7% 2.43% +0.41
TRMB Trimble Inc. New 0.39% +0.39
VMI Valmont Industries New 0.38% +0.38
JPM JPMorgan Chase & Co. New 0.35% +0.35
JNJ Johnson & Johnson Add +15.6% 2.33% +0.31
BSX Boston Scientific Corp. New 0.30% +0.30
LLY Eli Lilly & Co. New 0.29% +0.29
AAPL Apple Inc. New 0.28% +0.28
UBS UBS Group AG-Reg New 0.25% +0.25
CL Colgate-Palmolive Co. New 0.24% +0.24
B Barrick Mining Corp. New 0.24% +0.24
NU Nu Holdings Ltd./Cayman Isl-A Add +22.5% 1.87% +0.24
GM General Motors Co. New 0.22% +0.22
CRH CRH PLC New 0.22% +0.22
TTWO Take-Two Interactive Softwre New 0.22% +0.22
AER Aercap Holdings NV New 0.21% +0.21
J Jacobs Solutions Inc. New 0.20% +0.20
GS Goldman Sachs Group Inc. New 0.19% +0.19
ABT Abbott Laboratories Add +566.5% 0.23% +0.18
TRU Transunion New 0.18% +0.18
AON Aon PLC Class A Add +21.5% 2.52% +0.18
XOM Exxon Mobil Corp. New 0.17% +0.17
TMO Thermo Fisher Scientific Inc. New 0.17% +0.17
CFG Citizens Financial Group New 0.16% +0.16
PLNT Planet Fitness Inc. Class A New 0.16% +0.16
Z Zillow Group Inc. Class C New 0.15% +0.15
IBN Icici Bank Ltd.-Spon ADR Add +45.2% 0.70% +0.15
BA The Boeing Co. New 0.15% +0.15
META Meta Platforms Inc. Class A New 0.14% +0.14
FCX Freeport-McMoran Inc. New 0.13% +0.13
SNX TD Synnex Corp. New 0.13% +0.13
ALGN Align Technology Inc. Add +1.8% 1.07% +0.13
ICE Intercontinental Exchange Inc. Add +299.7% 0.17% +0.12
DAL Delta Air Lines Inc. New 0.12% +0.12
BAP Credicorp Ltd. Add +9.9% 1.94% +0.11
GLPI Gaming and Leisure Propertie New 0.09% +0.09
OKTA Okta Inc. New 0.09% +0.09
BROS Dutch Bros Inc. Class A New 0.09% +0.09
PINS Pinterest Inc. Class A New 0.09% +0.09
MA Mastercard Inc. Class A Add +14.0% 3.81% +0.09
DASH DoorDash Inc. Class A New 0.09% +0.09
TW Tradeweb Markets Inc. Class A New 0.08% +0.08
ELV Elevance Health Inc. New 0.07% +0.07

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 106$2.1BV, PM, GOOGL, MSFT, BKNG
Q1 2026 100$2.2BV, PM, GOOGL, MSFT, MA
Q4 2025 102$2.5BV, GOOGL, MSFT, PM, MA
Q3 2025Amended 70$2.2BV, MSFT, PM, ADSK, GOOGL
Q2 2025 65$2.0BV, MSFT, PM, BKNG, ADSK
Q1 2025 68$1.5BV, PM, MA, MSFT, ICLR
Q4 2024 71$1.6BV, MSFT, TSM, PM, ADSK
Q3 2024 66$1.5BV, MSFT, PM, BKNG, ADSK
Q2 2024 62$2.0BMSFT, V, BKNG, GOOGL, ADSK
Q1 2024 61$2.1BV, MSFT, BKNG, GOOGL, INTU