Ninety One SA (Pty) Ltd

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), Ninety One SA (Pty) Ltd reported 96 stock positions worth $2.3 billion. Its top holding was Anglogold Ashanti (AU) at 59.6% of the portfolio, followed by Microsoft (MSFT, 3.1%) and Berkshire Hathaway Class A (BRK.A, 3.0%). Compared with Q3 2025, it opened 5 new positions, sold out of 6, added to 26 and reduced 20. The biggest buy was a new position in Agnico Eagle Mines (AEM) and the biggest sale Microsoft (MSFT, shares −15%).

Most Recent 13F
Q2 2026
Location
Cape Town, T3
CIK
0001491998
Portfolio Value
$2.3B (Q4 2025)
SEC Filing
0001140361-26-002460 ↗ filed Jan 27, 2026

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 Q3 2025 Q4 2025: $2.3B $2.3B Q4 2025 Q1 2026: $2.3B Q1 2026 Q2 2026: $1.8B Q2 2026

Holdings 96 stocks · $2.3B
AU Anglogold Ashanti PLC 59.63% 15,960,934 $1.4B Reduce -10.9%
MSFT Microsoft Corp. 3.11% 148,941 $72.0M Reduce -15.2%
BRK.A Berkshire Hathaway Inc. Class A 2.97% 91 $68.7M No change
GOOGL Alphabet Inc. Class A 2.39% 176,621 $55.3M Reduce -3.9%
NVDA Nvidia Corp. 2.37% 294,685 $55.0M Add +1.0%
JNJ Johnson & Johnson 1.22% 136,769 $28.3M Add +27.6%
TKO Tko Group Holdings Inc. 1.20% 133,187 $27.8M No change
BKNG Booking Holdings Inc. 1.17% 5,043 $27.0M Add +8.2%
JPM JPMorgan Chase & Co. 1.12% 80,684 $26.0M Add +5.4%
AAPL Apple Inc. 1.09% 93,246 $25.3M Add +28.0%
AMZN Amazon.com Inc. 1.04% 104,496 $24.1M Reduce -14.9%
V Visa Inc. Class A 1.03% 68,035 $23.9M Reduce -5.7%
AVGO Broadcom Inc. 1.02% 68,362 $23.7M Add +63.3%
TSM Taiwan Semiconductor-SP ADR 1.00% 76,076 $23.1M Add +6.8%
PM Philip Morris International 0.92% 132,155 $21.2M No change
MA Mastercard Inc. Class A 0.81% 32,965 $18.8M Add +2.3%
TTWO Take-Two Interactive Softwre 0.81% 73,186 $18.7M No change
GS Goldman Sachs Group Inc. 0.79% 20,776 $18.3M Add +35.3%
AEM Agnico Eagle Mines Ltd. 0.78% 106,087 $18.0M New
CRH CRH PLC 0.75% 138,274 $17.3M No change
TMO Thermo Fisher Scientific Inc. 0.71% 28,192 $16.3M Add +4.2%
PLNT Planet Fitness Inc. Class A 0.68% 145,240 $15.8M No change
EW Edwards Lifesciences Corp. 0.67% 181,506 $15.5M Add +2.3%
ADSK Autodesk Inc. 0.61% 47,899 $14.2M Add +2.5%
J Jacobs Solutions Inc. 0.59% 102,407 $13.6M No change
NFLX Netflix Inc. 0.58% 143,470 $13.5M Reduce -3.6%
VLO Valero Energy Corp. 0.54% 76,514 $12.5M No change
RACE Ferrari NV 0.51% 31,680 $11.9M No change
ACM Aecom 0.48% 115,802 $11.0M No change
EA Electronic Arts Inc. 0.47% 52,902 $10.8M Add +0.7%
HDB HDFC Bank Ltd.-ADR 0.46% 293,246 $10.7M No change
MCO Moody's Corp. 0.42% 19,214 $9.8M Add +1.6%
INTU Intuit Inc. 0.42% 14,756 $9.8M Add +15.5%
GM General Motors Co. 0.40% 114,728 $9.3M No change
CFG Citizens Financial Group 0.39% 152,737 $8.9M No change
SPGI S&P Global Inc. 0.37% 16,198 $8.5M Add +28.4%
NTES Netease Inc.-ADR 0.35% 59,303 $8.2M Add +1.4%
SNX TD Synnex Corp. 0.33% 51,605 $7.8M No change
DAL Delta Air Lines Inc. 0.33% 109,454 $7.6M No change
TSLA Tesla Inc. 0.32% 16,311 $7.3M No change
TTE Totalenergies SE 0.31% 109,561 $7.2M New
TECK Teck Resources Ltd.-CLS B 0.30% 144,433 $6.9M Reduce -62.1%
PLD Prologis Inc. 0.29% 52,383 $6.7M Add +2027.7%
VRSK Verisk Analytics Inc. 0.28% 29,370 $6.6M Add +4.8%
TWLO Twilio Inc. Class A 0.27% 44,119 $6.3M Reduce -4.9%
Z Zillow Group Inc. Class C 0.27% 91,487 $6.2M No change
ICLR Icon PLC 0.26% 32,751 $6.0M Add +0.4%
PINS Pinterest Inc. Class A 0.25% 221,591 $5.7M No change
TW Tradeweb Markets Inc. Class A 0.25% 53,253 $5.7M No change
SW Smurfit Westrock PLC 0.24% 145,854 $5.6M No change
BROS Dutch Bros Inc. Class A 0.23% 87,790 $5.4M No change
DASH DoorDash Inc. Class A 0.22% 22,655 $5.1M No change
CHKP Check Point Software Tech 0.21% 25,811 $4.8M No change
GNRC Generac Holdings Inc. 0.19% 31,494 $4.3M No change
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC 0.15% 33,408 $3.5M Add +11.2%
VRSN Verisign Inc. 0.15% 14,281 $3.5M No change
ELV Elevance Health Inc. 0.14% 9,258 $3.2M No change
MRK Merck & Co. Inc. 0.11% 24,918 $2.6M Add +20.0%
GE General Electric filed as GE AEROSPACE 0.09% 6,798 $2.1M New
SCHW Schwab (charles) Corp. 0.09% 20,756 $2.1M Add +153.2%
KLAC KLA Corp. 0.08% 1,514 $1.8M New
META Meta Platforms Inc. Class A 0.08% 2,765 $1.8M Reduce -89.4%
QCOM Qualcomm Inc. 0.07% 8,900 $1.5M No change
KO The Coca-Cola Co. 0.06% 18,390 $1.3M Reduce -59.9%
ABT Abbott Laboratories 0.04% 7,010 $878K Reduce -37.6%
BSX Boston Scientific Corp. 0.03% 8,111 $773K No change
LLY Eli Lilly & Co. 0.03% 600 $645K No change
B Barrick Mining Corp. 0.03% 14,035 $611K No change
UBS UBS Group AG-Reg 0.03% 12,516 $584K No change
MRSH Marsh & McLennan Cos 0.02% 2,967 $550K Add +165.2%
AER Aercap Holdings NV 0.02% 3,786 $544K No change
TRU Transunion 0.02% 5,860 $502K No change
MICC The Magnum Ice Cream Co. NV 0.02% 30,087 $477K New
MSI Motorola Solutions Inc. 0.02% 1,157 $444K Add +87.5%
PG The Procter & Gamble Co. 0.02% 3,058 $438K Reduce -48.5%
ZG Zillow Group Inc. Class A 0.02% 6,399 $437K No change
TXN Texas Instruments Inc. 0.02% 2,461 $427K Reduce -49.2%
XOM Exxon Mobil Corp. 0.02% 3,529 $425K No change
ACN Accenture PLC Class A 0.02% 1,530 $411K Reduce -68.3%
ADP Automatic Data Processing 0.02% 1,537 $395K No change
ADBE Adobe Inc. 0.02% 1,129 $395K Reduce -75.0%
MNST Monster Beverage Corp. 0.02% 4,958 $380K Reduce -10.9%
BA The Boeing Co. 0.02% 1,750 $380K No change
TT Trane Technologies PLC 0.02% 958 $373K Add +36.5%
IBN Icici Bank Ltd.-Spon ADR 0.02% 12,395 $369K No change
FCX Freeport-McMoran Inc. 0.02% 7,096 $360K No change
ICE Intercontinental Exchange Inc. 0.01% 2,100 $340K No change
FDS Factset Research Systems Inc. 0.01% 1,068 $310K No change
AMT American Tower Corp. 0.01% 1,741 $306K Reduce -95.2%
CSCO Cisco Systems Inc. 0.01% 3,850 $297K Reduce -51.2%
ALGN Align Technology Inc. 0.01% 1,737 $271K No change
GLPI Gaming and Leisure Propertie 0.01% 5,500 $246K No change
LNG Cheniere Energy Inc. 0.01% 1,135 $221K Reduce -97.5%
OKTA Okta Inc. 0.01% 2,266 $196K Reduce -16.9%
HOOD Robinhood Markets Inc. Class A 0.01% 1,656 $187K No change
ZTS Zoetis Inc. 0.01% 1,366 $172K No change

Portfolio Sells Q3 2025 → Q4 2025
MSFT Microsoft Corp. Reduce -15.2% 3.11% −0.99
KGC Kinross Gold Corp. Sold out 0.00% −0.97
META Meta Platforms Inc. Class A Reduce -89.4% 0.08% −0.79
LNG Cheniere Energy Inc. Reduce -97.5% 0.01% −0.46
TECK Teck Resources Ltd.-CLS B Reduce -62.1% 0.30% −0.45
NEM Newmont Corp. Sold out 0.00% −0.39
AMT American Tower Corp. Reduce -95.2% 0.01% −0.30
SNPS Synopsys Inc. Sold out 0.00% −0.30
NFLX Netflix Inc. Reduce -3.6% 0.58% −0.22
AMZN Amazon.com Inc. Reduce -14.9% 1.04% −0.17
KO The Coca-Cola Co. Reduce -59.9% 0.06% −0.08
V Visa Inc. Class A Reduce -5.7% 1.03% −0.08
ADBE Adobe Inc. Reduce -75.0% 0.02% −0.06
IDXX Idexx Laboratories Inc. Sold out 0.00% −0.05
ACN Accenture PLC Class A Reduce -68.3% 0.02% −0.04
ABT Abbott Laboratories Reduce -37.6% 0.04% −0.03
PG The Procter & Gamble Co. Reduce -48.5% 0.02% −0.02
TXN Texas Instruments Inc. Reduce -49.2% 0.02% −0.02
RBLX Roblox Corp. Class A Sold out 0.00% −0.02
AZO AutoZone Inc. Sold out 0.00% −0.02
CSCO Cisco Systems Inc. Reduce -51.2% 0.01% −0.01
OKTA Okta Inc. Reduce -16.9% 0.01% −0.00
MNST Monster Beverage Corp. Reduce -10.9% 0.02% −0.00
TWLO Twilio Inc. Class A Reduce -4.9% 0.27% +0.06
GOOGL Alphabet Inc. Class A Reduce -3.9% 2.39% +0.38
AU Anglogold Ashanti PLC Reduce -10.9% 59.63% +2.80

Portfolio Buys Q3 2025 → Q4 2025
AEM Agnico Eagle Mines Ltd. New 0.78% +0.78
AVGO Broadcom Inc. Add +63.3% 1.02% +0.40
JNJ Johnson & Johnson Add +27.6% 1.22% +0.33
TTE Totalenergies SE New 0.31% +0.31
PLD Prologis Inc. Add +2027.7% 0.29% +0.28
AAPL Apple Inc. Add +28.0% 1.09% +0.26
GS Goldman Sachs Group Inc. Add +35.3% 0.79% +0.24
TMO Thermo Fisher Scientific Inc. Add +4.2% 0.71% +0.13
TSM Taiwan Semiconductor-SP ADR Add +6.8% 1.00% +0.10
GE General Electric New 0.09% +0.09
SPGI S&P Global Inc. Add +28.4% 0.37% +0.09
KLAC KLA Corp. New 0.08% +0.08
SCHW Schwab (charles) Corp. Add +153.2% 0.09% +0.05
EW Edwards Lifesciences Corp. Add +2.3% 0.67% +0.05
JPM JPMorgan Chase & Co. Add +5.4% 1.12% +0.04
MRK Merck & Co. Inc. Add +20.0% 0.11% +0.04
EL Estee Lauder Companies Class A Add +11.2% 0.15% +0.03
BKNG Booking Holdings Inc. Add +8.2% 1.17% +0.03
INTU Intuit Inc. Add +15.5% 0.42% +0.03
MICC The Magnum Ice Cream Co. NV New 0.02% +0.02
MCO Moody's Corp. Add +1.6% 0.42% +0.02
MRSH Marsh & McLennan Cos Add +165.2% 0.02% +0.01
ICLR Icon PLC Add +0.4% 0.26% +0.01
MSI Motorola Solutions Inc. Add +87.5% 0.02% +0.01
TT Trane Technologies PLC Add +36.5% 0.02% +0.00
EA Electronic Arts Inc. Add +0.7% 0.47% −0.01
MA Mastercard Inc. Class A Add +2.3% 0.81% −0.01
VRSK Verisk Analytics Inc. Add +4.8% 0.28% −0.03
NTES Netease Inc.-ADR Add +1.4% 0.35% −0.05
ADSK Autodesk Inc. Add +2.5% 0.61% −0.06
NVDA Nvidia Corp. Add +1.0% 2.37% −0.08

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