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Ninety One North America, Inc.

65 E 55TH ST 30TH FLOOR, NEW YORK, NY 10022 • 917-206-5179

Q3 2025 · Filed 2025-11-13
Market Value
$2.2B
+8.4%
Holdings
73
+5
New Purchases
9
Added To
22
Closed
4
Reduced
28
Top 10 Concentration
45.2%
Turnover
17.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ALC 2.38% 0.00% +2.38% $52M
NU 1.64% 0.00% +1.64% $36M
XP 1.06% 0.00% +1.06% $23M
STNE 1.38% 0.37% +1.00% $30M
GOOGL 4.15% 3.26% +0.89% $91M
KGC 0.61% 0.00% +0.61% $13M
AGCO 0.48% 0.00% +0.48% $10M
VALE 1.67% 1.20% +0.48% $37M
ICLR 3.54% 3.09% +0.45% $77M
RACE 0.43% 0.00% +0.43% $9M
EA 2.97% 2.55% +0.42% $65M
TSM 3.90% 3.50% +0.40% $85M
SE 3.04% 2.64% +0.40% $67M
INDA 2.03% 1.64% +0.39% $44M
EEM 0.37% 0.00% +0.37% $8M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ACN 0.05% 1.66% -1.61% $1M
FMX 0.00% 1.13% -1.13% $0
PM 5.14% 6.25% -1.11% $113M
VRSN 1.96% 2.99% -1.02% $43M
MMYT 0.00% 0.98% -0.98% $0
V 6.73% 7.62% -0.89% $147M
INTU 3.33% 4.17% -0.83% $73M
FDS 1.11% 1.87% -0.77% $24M
BKNG 3.88% 4.51% -0.63% $85M
VIST 0.77% 1.30% -0.53% $17M
BAP 1.85% 2.29% -0.44% $40M
ALGN 0.95% 1.30% -0.35% $21M
ADP 2.18% 2.52% -0.35% $48M
CHKP 1.89% 2.19% -0.30% $41M
MSFT 6.48% 6.77% -0.30% $142M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 29.1%
Technology 25.0%
Healthcare 11.7%
Communication Services 8.9%
Consumer Defensive 7.3%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 10 $710M 32.4%
Large Cap 48 $1.2B 54.0%
Mid Cap 14 $292M 13.3%
Micro Cap 1 $5M 0.2%

Portfolio Analytics

Avg Market Cap
$218.6B
Median Market Cap
$52.6B
Avg P/E
25.6
Median P/E
24.5
Avg Dividend Yield
0.02%
Avg Beta
0.83
# Stocks
67
# ETFs / Funds
6

Top Holdings (73 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 V 6.73% 431,985 $147M $341.38 -$6M -1,654 -0.4%
2 MSFT 6.48% 273,804 $142M $517.95 $5M -1,459 -0.5%
3 PM 5.14% 694,699 $113M $162.20 -$14M +1,197 +0.2%
4 ADSK 4.29% 296,108 $94M $317.67 $3M +3,386 +1.2%
5 GOOGL 4.15% 373,856 $91M $243.10 $25M
6 TSM 3.90% 305,940 $85M $279.29 $15M -6,466 -2.1%
7 BKNG 3.88% 15,729 $85M $5,399.27 -$6M
8 MA 3.75% 144,504 $82M $568.81 $9M +13,661 +10.4%
9 ICLR 3.54% 442,847 $77M $175.00 $15M +13,996 +3.3%
10 NTES 3.36% 483,745 $74M $151.99 $8M
11 INTU 3.33% 106,904 $73M $682.91 -$11M
12 SE 3.04% 372,502 $67M $178.73 $13M +38,887 +11.7%
13 EA 2.97% 323,008 $65M $201.70 $14M
14 ALC 2.38% 699,754 $52M $74.48 +699,754 NEW
15 AON 2.37% 145,307 $52M $356.58 $11M +30,522 +26.6%
16 ADP 2.18% 162,314 $48M $293.50 -$3M -2,972 -1.8%
17 JNJ 2.04% 240,770 $45M $185.42 $8M
18 INDA 2.03% 854,325 $44M $52.06 $11M +258,137 +43.3%
19 VRSN 1.96% 153,891 $43M $279.57 -$17M -55,204 -26.4%
20 EW 1.96% 551,399 $43M $77.77 $5M +71,017 +14.8%
21 CHKP 1.89% 200,041 $41M $206.91 -$3M
22 BAP 1.85% 151,820 $40M $266.28 -$6M -55,029 -26.6%
23 VALE 1.67% 3,377,582 $37M $10.86 $12M +886,214 +35.6%
24 NU 1.64% 2,249,382 $36M $16.01 +2,249,382 NEW
25 MNST 1.61% 522,726 $35M $67.31 $2M
26 SPGI 1.52% 68,360 $33M $486.71 -$3M -151 -0.2%
27 TX 1.48% 930,392 $32M $34.73 $2M -92,657 -9.1%
28 CPNG 1.44% 980,722 $32M $32.20 -$1M -119,506 -10.9%
29 MCO 1.40% 64,442 $31M $476.48 -$2M -141 -0.2%
30 STNE 1.38% 1,593,080 $30M $18.91 $23M +1,120,715 +237.3%
31 MSI 1.21% 57,878 $26M $457.29 $8M +12,963 +28.9%
32 NEE 1.17% 340,644 $26M $75.49 $3M +10,134 +3.1%
33 FDS 1.11% 84,686 $24M $286.49 -$14M
34 XP 1.06% 1,240,002 $23M $18.79 +1,240,002 NEW
35 ALGN 0.95% 166,036 $21M $125.22 -$6M +26,903 +19.3%
36 MMC 0.90% 98,045 $20M $201.53 -$2M
37 TEL 0.82% 81,992 $18M $219.53 $496K -21,785 -21.0%
38 ACM 0.80% 133,978 $17M $130.47 $3M +2,484 +1.9%
39 VIST 0.77% 487,477 $17M $34.40 -$9M -60,724 -11.1%
40 TTEK 0.62% 404,095 $13M $33.38 -$348K +19,306 +5.0%
41 KGC 0.61% 541,334 $13M $24.82 +541,334 NEW
42 IBN 0.55% 400,883 $12M $30.23 $3M +128,825 +47.4%
43 MELI 0.51% 4,743 $11M $2,336.94 -$5M -1,351 -22.2%
44 AGCO 0.48% 97,888 $10M $107.07 +97,888 NEW
45 WM 0.43% 42,939 $9M $220.83 $123K +2,039 +5.0%
46 RACE 0.43% 19,390 $9M $483.63 +19,390 NEW
47 EEM 0.37% 150,861 $8M $53.40 +150,861 NEW
48 HDB 0.31% 200,150 $7M $34.16 -$2M +86,988 +76.9%
49 ASX 0.25% 496,795 $6M $11.09 $3M +224,267 +82.3%
50 UAE 0.23% 269,635 $5M $18.89 +269,635 NEW
51 FTI 0.21% 118,011 $5M $39.45 $1M +12,377 +11.7%
52 ERJ 0.20% 72,962 $4M $60.45 -$633K -15,662 -17.7%
53 PG 0.19% 26,936 $4M $153.65 -$2M -8,963 -25.0%
54 ACN 0.05% 4,655 $1M $246.60 -$32M -107,481 -95.8%
55 ICE 0.05% 6,439 $1M $168.48 -$490K -2,143 -25.0%
56 SRLN 0.04% 21,718 $903K $41.58 $239K +5,748 +36.0%
57 ABT 0.04% 6,653 $891K $133.94 -$315K -2,214 -25.0%
58 BKLN 0.04% 42,200 $883K $20.93 $465K +22,200 +111.0%
59 AJG 0.04% 2,497 $773K $309.74 -$292K -831 -25.0%
60 KO 0.03% 10,814 $717K $66.32 -$302K -3,598 -25.0%
61 CME 0.03% 2,307 $623K $270.19 -$224K -768 -25.0%
62 ROP 0.02% 1,072 $535K $498.69 -$275K -357 -25.0%
63 EFX 0.02% 1,958 $502K $256.53 -$175K -652 -25.0%
64 USHY 0.02% 12,570 $475K $37.78 +12,570 NEW
65 BR 0.02% 1,612 $384K $238.17 -$138K -536 -24.9%
66 OTIS 0.02% 4,122 $377K $91.43 -$167K -1,372 -25.0%
67 STE 0.01% 1,303 $322K $247.44 -$95K -434 -25.0%
68 ZTS 0.01% 1,798 $263K $146.32 -$111K -598 -25.0%
69 JKHY —% 657 $98K $148.93 -$60K -219 -25.0%
70 BDX —% -$739K -4,289 -100.0% SOLD
71 UNH —% -$688K -2,204 -100.0% SOLD
72 FMX —% -$23M -222,042 -100.0% SOLD
73 MMYT —% -$20M -202,881 -100.0% SOLD

New Positions

SymbolValue% Port
ALC $52M 2.38%
NU $36M 1.64%
XP $23M 1.06%
KGC $13M 0.61%
AGCO $10M 0.48%
RACE $9M 0.43%
EEM $8M 0.37%
UAE $5M 0.23%
USHY $475K 0.02%

Sold Out Positions

SymbolValue% Port
BDX —%
FMX —%
UNH —%
MMYT —%
View SEC EDGAR Filings for Ninety One North America, Inc. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms