Ninety One SA (Pty) Ltd

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Ninety One SA (Pty) Ltd reported 97 stock positions worth $2.2 billion. Its top holding was Anglogold Ashanti (AU) at 56.8% of the portfolio, followed by Microsoft (MSFT, 4.1%) and Berkshire Hathaway Class A (BRK.A, 3.1%). Compared with Q2 2025, it opened 24 new positions, sold out of 1, added to 39 and reduced 11. The biggest buy was a new position in Anglogold Ashanti (AU) and the biggest sale Taiwan Semiconductor-SP ADR (TSM, shares −55%).

Most Recent 13F
Q2 2026
Location
Cape Town, T3
CIK
0001491998
Portfolio Value
$2.2B (Q3 2025)
SEC Filing
0001140361-25-041935 ↗ filed Nov 13, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q1 2024: $694.3M Q1 2024 Q2 2024: $645.1M Q2 2024 Q3 2024: $457.9M Q3 2024 Q4 2024: $453.4M Q4 2024 Q1 2025: $539.6M Q1 2025 Q2 2025: $608.8M Q2 2025 Q3 2025: $2.2B $2.2B Q3 2025 Q4 2025: $2.3B Q4 2025 Q1 2026: $2.3B Q1 2026 Q2 2026: $1.8B Q2 2026

Holdings 97 stocks · $2.2B
AU Anglogold Ashanti PLC 56.83% 17,916,501 $1.3B New
MSFT Microsoft Corp. 4.10% 175,671 $90.9M Add +86.5%
BRK.A Berkshire Hathaway Inc. Class A 3.08% 91 $68.2M No change
NVDA Nvidia Corp. 2.46% 291,703 $54.5M Add +126.8%
GOOGL Alphabet Inc. Class A 2.01% 183,854 $44.5M Add +47.7%
TKO Tko Group Holdings Inc. 1.23% 133,187 $27.2M Add +87.3%
AMZN Amazon.com Inc. 1.22% 122,750 $26.9M Reduce -20.3%
BKNG Booking Holdings Inc. 1.14% 4,663 $25.2M Add +4.8%
V Visa Inc. Class A 1.11% 72,154 $24.6M Add +15.1%
JPM JPMorgan Chase & Co. 1.08% 76,572 $24.0M Add +93.6%
KGC Kinross Gold Corp. 0.97% 870,664 $21.6M New
PM Philip Morris International 0.97% 132,155 $21.5M Add +70.0%
TSM Taiwan Semiconductor-SP ADR 0.89% 71,245 $19.8M Reduce -55.2%
JNJ Johnson & Johnson 0.89% 107,175 $19.7M Add +7.5%
META Meta Platforms Inc. Class A 0.87% 26,124 $19.2M New
TTWO Take-Two Interactive Softwre 0.85% 73,186 $18.9M Add +91.4%
AAPL Apple Inc. 0.84% 72,842 $18.6M Add +2448.7%
MA Mastercard Inc. Class A 0.82% 32,241 $18.3M Add +121.7%
NFLX Netflix Inc. 0.80% 14,885 $17.7M Add +17.5%
TECK Teck Resources Ltd.-CLS B 0.75% 381,102 $16.6M Add +18.6%
CRH CRH PLC 0.75% 138,274 $16.6M Add +125.7%
RACE Ferrari NV 0.69% 31,680 $15.3M New
J Jacobs Solutions Inc. 0.69% 102,407 $15.3M Add +90.1%
ACM Aecom 0.68% 115,802 $15.1M Add +93.0%
PLNT Planet Fitness Inc. Class A 0.68% 145,240 $15.1M Add +221.9%
ADSK Autodesk Inc. 0.67% 46,740 $14.9M Reduce -15.0%
EW Edwards Lifesciences Corp. 0.62% 177,434 $13.8M Add +26.9%
AVGO Broadcom Inc. 0.62% 41,864 $13.7M Add +28.5%
VLO Valero Energy Corp. 0.58% 76,514 $13.0M New
TMO Thermo Fisher Scientific Inc. 0.58% 27,055 $12.9M Add +86.2%
GS Goldman Sachs Group Inc. 0.55% 15,360 $12.2M Reduce -57.0%
EA Electronic Arts Inc. 0.48% 52,530 $10.6M No change
LNG Cheniere Energy Inc. 0.47% 44,441 $10.4M Add +91.5%
HDB HDFC Bank Ltd.-ADR 0.45% 293,246 $10.0M Add +97.5%
MCO Moody's Corp. 0.41% 18,918 $9.0M No change
NTES Netease Inc.-ADR 0.40% 58,513 $8.9M No change
INTU Intuit Inc. 0.40% 12,776 $8.8M No change
NEM Newmont Corp. 0.39% 101,691 $8.6M Add +98.9%
SNX TD Synnex Corp. 0.38% 51,605 $8.5M Add +15.4%
CFG Citizens Financial Group 0.36% 152,737 $8.1M New
TSLA Tesla Inc. 0.33% 16,311 $7.2M Add +73.3%
PINS Pinterest Inc. Class A 0.32% 221,591 $7.2M Add +151.3%
Z Zillow Group Inc. Class C 0.32% 91,487 $7.1M Add +86.8%
VRSK Verisk Analytics Inc. 0.32% 28,023 $7.0M Add +10.2%
AMT American Tower Corp. 0.32% 36,541 $7.0M Add +107.2%
GM General Motors Co. 0.32% 114,728 $7.0M Add +90.7%
SNPS Synopsys Inc. 0.30% 13,508 $6.6M New
DAL Delta Air Lines Inc. 0.28% 109,454 $6.2M Add +93.8%
DASH DoorDash Inc. Class A 0.28% 22,655 $6.1M New
SPGI S&P Global Inc. 0.28% 12,612 $6.1M Add +10.1%
SW Smurfit Westrock PLC 0.28% 145,854 $6.1M New
TW Tradeweb Markets Inc. Class A 0.27% 53,253 $5.9M Add +98.6%
ICLR Icon PLC 0.25% 32,608 $5.5M No change
CHKP Check Point Software Tech 0.24% 25,811 $5.4M No change
GNRC Generac Holdings Inc. 0.24% 31,494 $5.3M New
TWLO Twilio Inc. Class A 0.21% 46,375 $4.6M Add +83.9%
BROS Dutch Bros Inc. Class A 0.21% 87,790 $4.6M New
VRSN Verisign Inc. 0.18% 14,281 $4.0M Reduce -34.3%
KO The Coca-Cola Co. 0.14% 45,835 $3.0M New
ELV Elevance Health Inc. 0.13% 9,258 $3.0M Add +87.6%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.12% 30,043 $2.6M No change
MRK Merck & Co. Inc. 0.07% 20,765 $1.7M New
ADBE Adobe Inc. 0.07% 4,517 $1.6M New
ABT Abbott Laboratories 0.07% 11,237 $1.5M New
QCOM Qualcomm Inc. 0.07% 8,900 $1.5M New
IDXX Idexx Laboratories Inc. 0.05% 1,905 $1.2M Reduce -69.4%
ACN Accenture PLC Class A 0.05% 4,820 $1.2M New
PG The Procter & Gamble Co. 0.04% 5,936 $913K New
TXN Texas Instruments Inc. 0.04% 4,842 $884K New
BSX Boston Scientific Corp. 0.04% 8,111 $792K No change
SCHW Schwab (charles) Corp. 0.04% 8,199 $785K New
CSCO Cisco Systems Inc. 0.02% 7,888 $542K New
UBS UBS Group AG-Reg 0.02% 12,516 $511K New
ZG Zillow Group Inc. Class A 0.02% 6,399 $489K No change
TRU Transunion 0.02% 5,860 $483K Add +44.1%
B Barrick Mining Corp. 0.02% 14,035 $468K Reduce -39.9%
AER Aercap Holdings NV 0.02% 3,786 $463K No change
ADP Automatic Data Processing 0.02% 1,537 $451K No change
LLY Eli Lilly & Co. 0.02% 600 $437K No change
XOM Exxon Mobil Corp. 0.02% 3,529 $397K No change
MNST Monster Beverage Corp. 0.02% 5,566 $375K No change
IBN Icici Bank Ltd.-Spon ADR 0.02% 12,395 $374K No change
BA The Boeing Co. 0.02% 1,750 $374K New
RBLX Roblox Corp. Class A 0.02% 2,575 $354K Reduce -90.0%
ICE Intercontinental Exchange Inc. 0.02% 2,100 $353K Reduce -26.2%
AZO AutoZone Inc. 0.02% 81 $350K No change
FDS Factset Research Systems Inc. 0.01% 1,068 $306K No change
TT Trane Technologies PLC 0.01% 702 $294K No change
MSI Motorola Solutions Inc. 0.01% 617 $282K Add +29.1%
PLD Prologis Inc. 0.01% 2,462 $279K No change
FCX Freeport-McMoran Inc. 0.01% 7,096 $267K No change
GLPI Gaming and Leisure Propertie 0.01% 5,500 $258K No change
OKTA Okta Inc. 0.01% 2,728 $248K Reduce -94.5%
HOOD Robinhood Markets Inc. Class A 0.01% 1,656 $231K New
MRSH Marsh & McLennan Cos 0.01% 1,119 $226K Reduce -64.6%
ALGN Align Technology Inc. 0.01% 1,737 $218K Add +20.0%
ZTS Zoetis Inc. 0.01% 1,366 $197K No change

Portfolio Sells Q2 2025 → Q3 2025
TSM Taiwan Semiconductor-SP ADR Reduce -55.2% 0.89% −5.01
AMZN Amazon.com Inc. Reduce -20.3% 1.22% −4.37
GS Goldman Sachs Group Inc. Reduce -57.0% 0.55% −3.60
ADSK Autodesk Inc. Reduce -15.0% 0.67% −2.12
VRSN Verisign Inc. Reduce -34.3% 0.18% −0.85
CNI Canadian Natl Railway Co. Sold out 0.00% −0.84
OKTA Okta Inc. Reduce -94.5% 0.01% −0.80
IDXX Idexx Laboratories Inc. Reduce -69.4% 0.05% −0.49
RBLX Roblox Corp. Class A Reduce -90.0% 0.02% −0.43
MRSH Marsh & McLennan Cos Reduce -64.6% 0.01% −0.10
ICE Intercontinental Exchange Inc. Reduce -26.2% 0.02% −0.07
B Barrick Mining Corp. Reduce -39.9% 0.02% −0.06

Portfolio Buys Q2 2025 → Q3 2025
AU Anglogold Ashanti PLC New 56.83% +56.83
KGC Kinross Gold Corp. New 0.97% +0.97
META Meta Platforms Inc. Class A New 0.87% +0.87
AAPL Apple Inc. Add +2448.7% 0.84% +0.74
RACE Ferrari NV New 0.69% +0.69
VLO Valero Energy Corp. New 0.58% +0.58
CFG Citizens Financial Group New 0.36% +0.36
SNPS Synopsys Inc. New 0.30% +0.30
DASH DoorDash Inc. Class A New 0.28% +0.28
SW Smurfit Westrock PLC New 0.28% +0.28
GNRC Generac Holdings Inc. New 0.24% +0.24
BROS Dutch Bros Inc. Class A New 0.21% +0.21
KO The Coca-Cola Co. New 0.14% +0.14
MRK Merck & Co. Inc. New 0.07% +0.07
ADBE Adobe Inc. New 0.07% +0.07
ABT Abbott Laboratories New 0.07% +0.07
QCOM Qualcomm Inc. New 0.07% +0.07
ACN Accenture PLC Class A New 0.05% +0.05
PG The Procter & Gamble Co. New 0.04% +0.04
TXN Texas Instruments Inc. New 0.04% +0.04
SCHW Schwab (charles) Corp. New 0.04% +0.04
CSCO Cisco Systems Inc. New 0.02% +0.02
UBS UBS Group AG-Reg New 0.02% +0.02
BA The Boeing Co. New 0.02% +0.02
HOOD Robinhood Markets Inc. Class A New 0.01% +0.01
MSI Motorola Solutions Inc. Add +29.1% 0.01% −0.02
ALGN Align Technology Inc. Add +20.0% 0.01% −0.04
TRU Transunion Add +44.1% 0.02% −0.04
NEM Newmont Corp. Add +98.9% 0.39% −0.10
PLNT Planet Fitness Inc. Class A Add +221.9% 0.68% −0.13
TSLA Tesla Inc. Add +73.3% 0.33% −0.17
GM General Motors Co. Add +90.7% 0.32% −0.17
CRH CRH PLC Add +125.7% 0.75% −0.18
DAL Delta Air Lines Inc. Add +93.8% 0.28% −0.18
ELV Elevance Health Inc. Add +87.6% 0.13% −0.18
PINS Pinterest Inc. Class A Add +151.3% 0.32% −0.20
Z Zillow Group Inc. Class C Add +86.8% 0.32% −0.24
TWLO Twilio Inc. Class A Add +83.9% 0.21% −0.31
AMT American Tower Corp. Add +107.2% 0.32% −0.32
TW Tradeweb Markets Inc. Class A Add +98.6% 0.27% −0.38
TMO Thermo Fisher Scientific Inc. Add +86.2% 0.58% −0.39
ACM Aecom Add +93.0% 0.68% −0.43
LNG Cheniere Energy Inc. Add +91.5% 0.47% −0.46
J Jacobs Solutions Inc. Add +90.1% 0.69% −0.47
HDB HDFC Bank Ltd.-ADR Add +97.5% 0.45% −0.48
MA Mastercard Inc. Class A Add +121.7% 0.82% −0.52
SNX TD Synnex Corp. Add +15.4% 0.38% −0.61
TTWO Take-Two Interactive Softwre Add +91.4% 0.85% −0.67
SPGI S&P Global Inc. Add +10.1% 0.28% −0.71
JPM JPMorgan Chase & Co. Add +93.6% 1.08% −0.80

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 110$1.8BAU, BRK.A, NVDA, GOOGL, MSFT
Q1 2026 96$2.3BAU, GOOGL, BRK.A, NVDA, MSFT
Q4 2025 96$2.3BAU, MSFT, BRK.A, GOOGL, NVDA
Q3 2025Amended 97$2.2BAU, MSFT, BRK.A, NVDA, GOOGL
Q2 2025 74$608.8MBRK.A, MSFT, TSM, AMZN, BKNG
Q1 2025 74$539.6MBRK.A, AMZN, MSFT, V, KGC
Q4 2024 74$453.4MBRK.A, AMZN, JPM, NFLX, MSFT
Q3 2024 75$457.9MBRK.A, MSFT, AMZN, JPM, C
Q2 2024 71$645.1MMSFT, BRK.A, TSM, AAPL, GOOGL
Q1 2024 73$694.3MMSFT, BRK.A, AMZN, GOOGL, XOM