NS Partners Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), NS Partners Ltd reported 74 stock positions worth $2.6 billion. Its top holding was Nvidia (NVDA) at 10.5% of the portfolio, followed by Microsoft (MSFT, 10.4%) and Alphabet Class C (GOOG, 6.3%). Compared with Q2 2025, it opened 5 new positions, sold out of 3, added to 27 and reduced 39. The biggest buy was a new position in Tencent Music Entertainm-ADR (TME) and the biggest sale Qfin Holdings Inc.-ADR (QFIN, shares −59%).
- Most Recent 13F
- Q2 2026
- Location
- LONDON, X0
- CIK
- 0001657111
- Portfolio Value
- $2.6B (Q3 2025)
- SEC Filing
- 0001657111-25-000008 ↗ filed Nov 13, 2025
Holdings Value
Holdings 74 stocks · $2.6B
| NVDA Nvidia Corp. | 10.45% | 1,447,886 | $270.1M | Reduce -3.4% |
| MSFT Microsoft Corp. | 10.38% | 518,184 | $268.4M | Add +1.0% |
| GOOG Alphabet Inc. Class C | 6.29% | 667,593 | $162.6M | Reduce -0.4% |
| AAPL Apple Inc. | 5.44% | 552,568 | $140.7M | Reduce -0.9% |
| META Meta Platforms Inc. Class A | 4.85% | 170,787 | $125.4M | Add +2.3% |
| AMZN Amazon.com Inc. | 4.34% | 511,444 | $112.3M | Add +12.9% |
| INTU Intuit Inc. | 2.58% | 97,844 | $66.8M | Add +0.0% |
| MA Mastercard Inc. Class A | 2.22% | 101,080 | $57.5M | Reduce -1.3% |
| V Visa Inc. Class A | 2.14% | 161,729 | $55.2M | Reduce -1.7% |
| UNH Unitedhealth Group Inc. | 2.00% | 149,512 | $51.6M | Add +19.1% |
| JPM JPMorgan Chase & Co. | 1.97% | 161,720 | $51.0M | Reduce -0.6% |
| TMUS T-Mobile US Inc. | 1.81% | 195,075 | $46.7M | Add +0.2% |
| MSCI MSCI Inc. | 1.65% | 75,053 | $42.6M | Reduce -0.3% |
| SYK Stryker Corp. | 1.56% | 109,418 | $40.4M | Add +0.0% |
| SPGI S&P Global Inc. | 1.50% | 79,790 | $38.8M | Reduce -2.1% |
| MAR Marriott International Class A | 1.47% | 145,937 | $38.0M | Reduce -0.6% |
| MCD McDonald's Corp. | 1.45% | 123,119 | $37.4M | Reduce -0.6% |
| NEE Nextera Energy Inc. | 1.37% | 469,236 | $35.4M | Reduce -0.4% |
| BSX Boston Scientific Corp. | 1.35% | 358,366 | $35.0M | Reduce -0.1% |
| MCO Moody's Corp. | 1.34% | 72,713 | $34.6M | Reduce -1.5% |
| ISRG Intuitive Surgical Inc. | 1.25% | 72,206 | $32.3M | Add +0.0% |
| VRSK Verisk Analytics Inc. | 1.18% | 121,730 | $30.6M | Add +0.1% |
| KO The Coca-Cola Co. | 1.14% | 445,159 | $29.5M | Reduce -0.7% |
| BKNG Booking Holdings Inc. | 1.11% | 5,312 | $28.7M | Reduce -0.1% |
| VRSN Verisign Inc. | 1.11% | 102,469 | $28.6M | Reduce -0.2% |
| YUM Yum! Brands Inc. | 1.01% | 171,503 | $26.1M | Reduce -0.6% |
| TME Tencent Music Entertainm-ADR | 0.99% | 1,101,300 | $25.7M | New |
| ADP Automatic Data Processing | 0.99% | 87,082 | $25.6M | Reduce -0.7% |
| CRM Salesforce Inc. | 0.98% | 107,321 | $25.4M | Add +0.1% |
| ZTS Zoetis Inc. | 0.98% | 173,339 | $25.4M | Reduce -0.0% |
| HDB HDFC Bank Ltd.-ADR | 0.96% | 723,478 | $24.7M | Add +2.8% |
| EFX Equifax Inc. | 0.94% | 94,791 | $24.3M | Add +0.0% |
| IDXX Idexx Laboratories Inc. | 0.94% | 37,910 | $24.2M | Reduce -0.2% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 0.93% | 138,442 | $24.1M | Add +99.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.93% | 465,878 | $24.0M | Reduce -0.1% |
| EQIX Equinix Inc. | 0.93% | 30,531 | $23.9M | Reduce -0.6% |
| NOW ServiceNow Inc. | 0.92% | 25,803 | $23.7M | Add +6.6% |
| ADBE Adobe Inc. | 0.92% | 67,179 | $23.7M | Reduce -0.1% |
| MNST Monster Beverage Corp. | 0.90% | 344,479 | $23.2M | Add +0.1% |
| ADSK Autodesk Inc. | 0.82% | 66,985 | $21.3M | Add +0.0% |
| VEEV Veeva Systems Inc. Class A | 0.79% | 68,558 | $20.4M | Reduce -0.0% |
| NOC Northrop Grumman Corp. | 0.76% | 32,218 | $19.6M | Reduce -0.9% |
| HON Honeywell International Inc. | 0.73% | 89,413 | $18.8M | Add +0.1% |
| CSGP Costar Group Inc. | 0.70% | 214,803 | $18.1M | Add +0.1% |
| MKC McCormick & Co.-Non VTG SHRS | 0.64% | 248,095 | $16.6M | Reduce -0.8% |
| NKE Nike Inc. Class B | 0.63% | 234,907 | $16.4M | Add +0.4% |
| LMT Lockheed Martin Corp. | 0.62% | 32,159 | $16.1M | Reduce -0.6% |
| GRAB Grab Holdings Ltd. Class A | 0.62% | 2,651,810 | $16.0M | Reduce -12.1% |
| PM Philip Morris International | 0.62% | 98,376 | $16.0M | Add +13.2% |
| EW Edwards Lifesciences Corp. | 0.61% | 201,212 | $15.6M | Reduce -0.0% |
| SBUX Starbucks Corp. | 0.57% | 175,711 | $14.9M | Add +0.0% |
| CCI Crown Castle Inc. | 0.56% | 149,594 | $14.4M | Reduce -1.0% |
| SNPS Synopsys Inc. | 0.56% | 29,105 | $14.4M | New |
| TRU Transunion | 0.55% | 170,919 | $14.3M | Add +0.0% |
| ALLE Allegion PLC | 0.52% | 75,428 | $13.4M | Add +0.1% |
| PYPL PayPal Holdings Inc. | 0.50% | 192,837 | $12.9M | Add +0.1% |
| BDX Becton Dickinson and Co. | 0.44% | 60,434 | $11.3M | Reduce -1.0% |
| BAP Credicorp Ltd. | 0.41% | 40,217 | $10.7M | Reduce -33.6% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.40% | 117,330 | $10.3M | Add +0.1% |
| IBN Icici Bank Ltd.-Spon ADR | 0.38% | 327,687 | $9.9M | Reduce -2.4% |
| VALE Vale SA-SP ADR | 0.34% | 814,900 | $8.8M | Add +678.3% |
| KVUE Kenvue Inc. | 0.32% | 505,762 | $8.2M | Add +3.2% |
| VNET Vnet Group Inc.-ADR | 0.27% | 686,700 | $7.1M | New |
| MASI Masimo Corp. | 0.24% | 42,394 | $6.3M | Reduce -0.4% |
| VIST Vista Energy Sab DE CV | 0.24% | 180,100 | $6.2M | New |
| QFIN Qfin Holdings Inc.-ADR | 0.20% | 179,447 | $5.2M | Reduce -59.3% |
| ILMN Illumina Inc. | 0.19% | 52,706 | $5.0M | Reduce -0.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.17% | 15,618 | $4.4M | No change |
| STZ Constellation Brands Inc. Class A | 0.15% | 28,143 | $3.8M | Reduce -0.1% |
| SBS Cia Saneamento Basico DE-ADR filed as COMPANHIA DE SANEAMENTO BASI | 0.07% | 68,000 | $1.7M | New |
| HD Home Depot Inc. | 0.04% | 2,389 | $968K | Reduce -16.3% |
| RYAAY Ryanair Holdings PLC-SP ADR | 0.03% | 14,975 | $902K | No change |
| KSA Ishrs MSCI Saudi Arabia ETF | 0.01% | 8,700 | $353K | Reduce -11.2% |
| SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE | 0.01% | 6,100 | $262K | No change |
Portfolio Sells Q2 2025 → Q3 2025
| QFIN Qfin Holdings Inc.-ADR | Reduce -59.3% | 0.20% | −0.58 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.41 |
| GGAL Grupo Financiero Galicia-ADR | Sold out | 0.00% | −0.40 |
| SPGI S&P Global Inc. | Reduce -2.1% | 1.50% | −0.25 |
| V Visa Inc. Class A | Reduce -1.7% | 2.14% | −0.25 |
| BSX Boston Scientific Corp. | Reduce -0.1% | 1.35% | −0.22 |
| MCO Moody's Corp. | Reduce -1.5% | 1.34% | −0.17 |
| MAR Marriott International Class A | Reduce -0.6% | 1.47% | −0.17 |
| KO The Coca-Cola Co. | Reduce -0.7% | 1.14% | −0.15 |
| BKNG Booking Holdings Inc. | Reduce -0.1% | 1.11% | −0.15 |
| ADBE Adobe Inc. | Reduce -0.1% | 0.92% | −0.14 |
| BAP Credicorp Ltd. | Reduce -33.6% | 0.41% | −0.14 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -0.8% | 0.64% | −0.13 |
| MA Mastercard Inc. Class A | Reduce -1.3% | 2.22% | −0.13 |
| MSCI MSCI Inc. | Reduce -0.3% | 1.65% | −0.12 |
| ZTS Zoetis Inc. | Reduce -0.0% | 0.98% | −0.12 |
| ADP Automatic Data Processing | Reduce -0.7% | 0.99% | −0.12 |
| VRSN Verisign Inc. | Reduce -0.2% | 1.11% | −0.10 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.10 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -2.4% | 0.38% | −0.08 |
| CCI Crown Castle Inc. | Reduce -1.0% | 0.56% | −0.08 |
| EQIX Equinix Inc. | Reduce -0.6% | 0.93% | −0.07 |
| MASI Masimo Corp. | Reduce -0.4% | 0.24% | −0.05 |
| STZ Constellation Brands Inc. Class A | Reduce -0.1% | 0.15% | −0.04 |
| EW Edwards Lifesciences Corp. | Reduce -0.0% | 0.61% | −0.04 |
| YUM Yum! Brands Inc. | Reduce -0.6% | 1.01% | −0.04 |
| MCD McDonald's Corp. | Reduce -0.6% | 1.45% | −0.03 |
| VEEV Veeva Systems Inc. Class A | Reduce -0.0% | 0.79% | −0.02 |
| ILMN Illumina Inc. | Reduce -0.2% | 0.19% | −0.01 |
| HD Home Depot Inc. | Reduce -16.3% | 0.04% | −0.01 |
| GRAB Grab Holdings Ltd. Class A | Reduce -12.1% | 0.62% | −0.00 |
| KSA Ishrs MSCI Saudi Arabia ETF | Reduce -11.2% | 0.01% | −0.00 |
| BDX Becton Dickinson and Co. | Reduce -1.0% | 0.44% | +0.01 |
| LMT Lockheed Martin Corp. | Reduce -0.6% | 0.62% | +0.01 |
| BAC Bank of America Corp. | Reduce -0.1% | 0.93% | +0.03 |
| NEE Nextera Energy Inc. | Reduce -0.4% | 1.37% | +0.03 |
| JPM JPMorgan Chase & Co. | Reduce -0.6% | 1.97% | +0.05 |
| NOC Northrop Grumman Corp. | Reduce -0.9% | 0.76% | +0.10 |
| IDXX Idexx Laboratories Inc. | Reduce -0.2% | 0.94% | +0.10 |
| AAPL Apple Inc. | Reduce -0.9% | 5.44% | +0.77 |
| NVDA Nvidia Corp. | Reduce -3.4% | 10.45% | +0.78 |
| GOOG Alphabet Inc. Class C | Reduce -0.4% | 6.29% | +1.44 |
Portfolio Buys Q2 2025 → Q3 2025
| TME Tencent Music Entertainm-ADR | New | 0.99% | +0.99 |
| FUTU Futu Holdings Ltd.-ADR | Add +99.2% | 0.93% | +0.58 |
| SNPS Synopsys Inc. | New | 0.56% | +0.56 |
| UNH Unitedhealth Group Inc. | Add +19.1% | 2.00% | +0.40 |
| VALE Vale SA-SP ADR | Add +678.3% | 0.34% | +0.30 |
| AMZN Amazon.com Inc. | Add +12.9% | 4.34% | +0.29 |
| VNET Vnet Group Inc.-ADR | New | 0.27% | +0.27 |
| VIST Vista Energy Sab DE CV | New | 0.24% | +0.24 |
| ALLE Allegion PLC | Add +0.1% | 0.52% | +0.07 |
| SBS Cia Saneamento Basico DE-ADR | New | 0.07% | +0.07 |
| MNST Monster Beverage Corp. | Add +0.1% | 0.90% | +0.02 |
| EL Estee Lauder Companies Class A | Add +0.1% | 0.40% | +0.01 |
| CSGP Costar Group Inc. | Add +0.1% | 0.70% | −0.00 |
| ADSK Autodesk Inc. | Add +0.0% | 0.82% | −0.02 |
| PM Philip Morris International | Add +13.2% | 0.62% | −0.03 |
| MSFT Microsoft Corp. | Add +1.0% | 10.38% | −0.03 |
| NKE Nike Inc. Class B | Add +0.4% | 0.63% | −0.04 |
| TRU Transunion | Add +0.0% | 0.55% | −0.06 |
| EFX Equifax Inc. | Add +0.0% | 0.94% | −0.06 |
| SBUX Starbucks Corp. | Add +0.0% | 0.57% | −0.08 |
| PYPL PayPal Holdings Inc. | Add +0.1% | 0.50% | −0.08 |
| TMUS T-Mobile US Inc. | Add +0.2% | 1.81% | −0.09 |
| NOW ServiceNow Inc. | Add +6.6% | 0.92% | −0.10 |
| KVUE Kenvue Inc. | Add +3.2% | 0.32% | −0.10 |
| HON Honeywell International Inc. | Add +0.1% | 0.73% | −0.12 |
| HDB HDFC Bank Ltd.-ADR | Add +2.8% | 0.96% | −0.15 |
| META Meta Platforms Inc. Class A | Add +2.3% | 4.85% | −0.18 |
| SYK Stryker Corp. | Add +0.0% | 1.56% | −0.20 |
| CRM Salesforce Inc. | Add +0.1% | 0.98% | −0.21 |
| ISRG Intuitive Surgical Inc. | Add +0.0% | 1.25% | −0.35 |
| VRSK Verisk Analytics Inc. | Add +0.1% | 1.18% | −0.36 |
| INTU Intuit Inc. | Add +0.0% | 2.58% | −0.56 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 77 | $2.3B | NVDA, GOOG, AAPL, MSFT, AMZN |
| Q1 2026 | 71 | $2.2B | NVDA, GOOG, MSFT, AAPL, AMZN |
| Q4 2025 | 74 | $2.6B | MSFT, NVDA, GOOG, AAPL, AMZN |
| Q3 2025 | 74 | $2.6B | NVDA, MSFT, GOOG, AAPL, META |
| Q2 2025 | 72 | $2.4B | MSFT, NVDA, META, GOOG, AAPL |
| Q1 2025 | 73 | $2.3B | MSFT, NVDA, AAPL, GOOG, META |
| Q4 2024 | 77 | $2.4B | MSFT, NVDA, AAPL, GOOG, AMZN |
| Q3 2024 | 75 | $2.4B | MSFT, NVDA, AAPL, GOOG, META |
| Q2 2024 | 74 | $2.2B | MSFT, NVDA, GOOG, AAPL, AMZN |
| Q1 2024 | 75 | $2.2B | MSFT, NVDA, GOOG, AAPL, AMZN |