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Ninety One North America, Inc.

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

Q4 2025 · Filed 2026-01-27
Market Value
$2.5B
+11.9%
Holdings
107
+34
New Purchases
38
Added To
38
Closed
6
Reduced
24
Top 10 Concentration
41.9%
Turnover
41.1%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
GOOGL 5.45% 4.15% +1.30% $133M
NVDA 1.16% 0.00% +1.16% $28M
MMC 2.02% 0.90% +1.12% $50M
AVGO 0.58% 0.00% +0.58% $14M
TKO 0.53% 0.00% +0.53% $13M
AMZN 0.49% 0.00% +0.49% $12M
MSI 1.70% 1.21% +0.49% $42M
INDA 2.44% 2.03% +0.41% $60M
TRMB 0.39% 0.00% +0.39% $10M
VMI 0.38% 0.00% +0.38% $9M
JPM 0.35% 0.00% +0.35% $9M
JNJ 2.35% 2.04% +0.31% $58M
BSX 0.30% 0.00% +0.30% $7M
LLY 0.29% 0.00% +0.29% $7M
AAPL 0.28% 0.00% +0.28% $7M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SE 0.00% 3.04% -3.04% $0
CPNG 0.00% 1.44% -1.44% $17K
MSFT 5.08% 6.48% -1.40% $124M
TSM 3.19% 3.90% -0.71% $78M
ADSK 3.67% 4.29% -0.62% $90M
NTES 2.81% 3.36% -0.55% $69M
PM 4.62% 5.14% -0.52% $113M
MELI 0.00% 0.51% -0.51% $0
ADP 1.71% 2.18% -0.47% $42M
V 6.27% 6.73% -0.46% $154M
STNE 0.95% 1.38% -0.42% $23M
INTU 2.94% 3.33% -0.39% $72M
VRSN 1.58% 1.96% -0.39% $39M
BKNG 3.50% 3.88% -0.38% $86M
CHKP 1.54% 1.89% -0.35% $38M

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 18 $848M 34.6%
Large Cap 71 $1.3B 52.1%
Mid Cap 17 $326M 13.3%
Micro Cap 1 $0 0.0%

Portfolio Analytics

Avg Market Cap
$335.6B
Median Market Cap
$58.7B
Avg P/E
28.6
Median P/E
24.7
Avg Dividend Yield
0.01%
Avg Beta
0.96
# Stocks
101
# ETFs / Funds
6

Top Holdings (107 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 V 6.27% 438,344 $154M $350.71 $6M +6,359 +1.5%
2 GOOGL 5.45% 426,416 $133M $313.00 $43M +52,560 +14.1%
3 MSFT 5.08% 257,310 $124M $483.62 -$17M -16,494 -6.0%
4 PM 4.62% 706,366 $113M $160.40 $621K +11,667 +1.7%
5 MA 3.84% 164,735 $94M $570.88 $12M +20,231 +14.0%
6 ADSK 3.67% 304,051 $90M $296.01 -$4M +7,943 +2.7%
7 BKNG 3.50% 16,005 $86M $5,355.33 $787K +276 +1.8%
8 ICLR 3.39% 455,399 $83M $182.22 $5M +12,552 +2.8%
9 TSM 3.19% 257,068 $78M $303.89 -$7M -48,872 -16.0%
10 INTU 2.94% 108,831 $72M $662.42 -$914K +1,927 +1.8%
11 NTES 2.81% 500,241 $69M $137.62 -$5M +16,496 +3.4%
12 EA 2.77% 332,602 $68M $204.33 $3M +9,594 +3.0%
13 AON 2.54% 176,485 $62M $352.88 $10M +31,178 +21.5%
14 INDA 2.44% 1,107,777 $60M $54.05 $15M +253,452 +29.7%
15 ALC 2.37% 728,305 $58M $79.87 $6M +28,551 +4.1%
16 JNJ 2.35% 278,252 $58M $206.95 $13M +37,482 +15.6%
17 MMC 2.02% 267,244 $50M $185.52 $30M +169,199 +172.6%
18 EW 1.98% 567,944 $48M $85.25 $6M +16,545 +3.0%
19 BAP 1.95% 166,814 $48M $287.00 $7M +14,994 +9.9%
20 NU 1.88% 2,755,386 $46M $16.74 $10M +506,004 +22.5%
21 VALE 1.79% 3,361,779 $44M $13.03 $7M -15,803 -0.5%
22 ADP 1.71% 162,873 $42M $257.23 -$6M +559 +0.3%
23 MSI 1.70% 108,400 $42M $383.32 $15M +50,522 +87.3%
24 VRSN 1.58% 158,934 $39M $242.95 -$4M +5,043 +3.3%
25 CHKP 1.54% 203,646 $38M $185.56 -$4M +3,605 +1.8%
26 SPGI 1.48% 69,447 $36M $522.59 $3M +1,087 +1.6%
27 MNST 1.45% 464,682 $36M $76.67 $442K -58,044 -11.1%
28 MCO 1.36% 65,473 $33M $510.85 $3M +1,031 +1.6%
29 TX 1.22% 785,653 $30M $38.19 -$2M -144,739 -15.6%
30 NVDA 1.16% 152,128 $28M $186.50 +152,128 NEW
31 ALGN 1.08% 169,028 $26M $156.15 $6M +2,992 +1.8%
32 FDS 1.02% 86,179 $25M $290.19 $747K +1,493 +1.8%
33 VIST 0.96% 483,830 $24M $48.66 $7M -3,647 -0.8%
34 XP 0.96% 1,435,950 $24M $16.37 $207K +195,948 +15.8%
35 STNE 0.95% 1,580,941 $23M $14.79 -$7M -12,139 -0.8%
36 NEE 0.93% 284,236 $23M $80.28 -$3M -56,408 -16.6%
37 IBN 0.71% 582,037 $17M $29.80 $5M +181,154 +45.2%
38 TEL 0.70% 75,921 $17M $227.51 -$727K -6,071 -7.4%
39 AVGO 0.58% 41,182 $14M $346.10 +41,182 NEW
40 TTEK 0.57% 415,535 $14M $33.54 $448K +11,440 +2.8%
41 ACM 0.54% 137,801 $13M $95.33 -$4M +3,823 +2.9%
42 TKO 0.53% 62,231 $13M $209.00 +62,231 NEW
43 KGC 0.51% 440,414 $12M $28.20 -$1M -100,920 -18.6%
44 AMZN 0.49% 51,721 $12M $230.82 +51,721 NEW
45 AGCO 0.43% 100,693 $11M $104.32 $23K +2,805 +2.9%
46 EEM 0.42% 186,696 $10M $54.71 $2M +35,835 +23.8%
47 WM 0.40% 44,160 $10M $219.71 $220K +1,221 +2.8%
48 TRMB 0.39% 122,272 $10M $78.35 +122,272 NEW
49 VMI 0.38% 23,228 $9M $402.32 +23,228 NEW
50 JPM 0.35% 26,814 $9M $322.22 +26,814 NEW
51 ASX 0.31% 474,381 $8M $16.10 $2M -22,414 -4.5%
52 BSX 0.30% 77,718 $7M $95.35 +77,718 NEW
53 HDB 0.30% 198,771 $7M $36.54 $426K -1,379 -0.7%
54 LLY 0.29% 6,581 $7M $1,074.68 +6,581 NEW
55 AAPL 0.28% 24,998 $7M $271.86 +24,998 NEW
56 UBS 0.26% 134,367 $6M $46.65 +134,367 NEW
57 FTI 0.25% 139,130 $6M $44.56 $2M +21,119 +17.9%
58 CL 0.24% 74,432 $6M $79.02 +74,432 NEW
59 B 0.24% 134,473 $6M $43.55 +134,473 NEW
60 ABT 0.23% 44,344 $6M $125.29 $5M +37,691 +566.5%
61 GM 0.23% 68,043 $6M $81.32 +68,043 NEW
62 CRH.L 0.22% 43,670 $5M $124.80 +43,670 NEW
63 TTWO 0.22% 21,174 $5M $256.03 +21,174 NEW
64 AER 0.21% 35,546 $5M $143.76 +35,546 NEW
65 J 0.20% 37,505 $5M $132.46 +37,505 NEW
66 GS 0.19% 5,235 $5M $879.00 +5,235 NEW
67 TRU 0.18% 52,351 $4M $85.75 +52,351 NEW
68 XOM 0.18% 35,878 $4M $120.34 +35,878 NEW
69 TMO 0.17% 7,342 $4M $579.45 +7,342 NEW
70 ICE 0.17% 25,737 $4M $161.96 $3M +19,298 +299.7%
71 RACE 0.17% 11,126 $4M $374.30 -$5M -8,264 -42.6%
72 CFG 0.17% 69,448 $4M $58.41 +69,448 NEW
73 PLNT 0.16% 36,122 $4M $108.47 +36,122 NEW
74 Z 0.16% 55,789 $4M $68.22 +55,789 NEW
75 BA 0.15% 16,831 $4M $217.12 +16,831 NEW
76 META 0.15% 5,408 $4M $660.09 +5,408 NEW
77 FCX 0.13% 64,777 $3M $50.79 +64,777 NEW
78 SNX 0.13% 21,551 $3M $150.23 +21,551 NEW
79 PG 0.12% 20,401 $3M $143.31 -$1M -6,535 -24.3%
80 DAL 0.12% 41,414 $3M $69.40 +41,414 NEW
81 GLPI 0.09% 51,266 $2M $44.69 +51,266 NEW
82 OKTA 0.09% 26,425 $2M $86.47 +26,425 NEW
83 BROS 0.09% 35,423 $2M $61.22 +35,423 NEW
84 PINS 0.09% 83,397 $2M $25.89 +83,397 NEW
85 DASH 0.09% 9,402 $2M $226.48 +9,402 NEW
86 TW 0.08% 19,160 $2M $107.54 +19,160 NEW
87 ANTM 0.07% 5,137 $2M $350.55 +5,137 NEW
88 HOOD 0.07% 15,863 $2M $113.10 +15,863 NEW
89 ZTS 0.07% 12,955 $2M $125.82 $1M +11,157 +620.5%
90 BKLN 0.04% 42,200 $886K $21.00 $3K
91 USHY 0.03% 22,070 $825K $37.40 $350K +9,500 +75.6%
92 KO 0.02% 8,190 $573K $69.91 -$145K -2,624 -24.3%
93 AJG 0.02% 1,891 $489K $258.79 -$284K -606 -24.3%
94 CME 0.02% 1,747 $477K $273.08 -$146K -560 -24.3%
95 ROP 0.01% 812 $361K $445.13 -$173K -260 -24.2%
96 EFX 0.01% 1,483 $322K $216.98 -$181K -475 -24.3%
97 OTIS 0.01% 3,122 $273K $87.35 -$104K -1,000 -24.3%
98 BR 0.01% 1,221 $272K $223.17 -$111K -391 -24.3%
99 STE 0.01% 987 $250K $253.52 -$72K -316 -24.2%
100 JKHY —% 498 $91K $182.48 -$7K -159 -24.2%

New Positions

SymbolValue% Port
NVDA $28M 1.16%
AVGO $14M 0.58%
TKO $13M 0.53%
AMZN $12M 0.49%
TRMB $10M 0.39%
VMI $9M 0.38%
JPM $9M 0.35%
BSX $7M 0.30%
LLY $7M 0.29%
AAPL $7M 0.28%
UBS $6M 0.26%
CL $6M 0.24%
B $6M 0.24%
GM $6M 0.23%
CRH.L $5M 0.22%

Sold Out Positions

SymbolValue% Port
ACN —%
SE —%
MELI —%
SRLN —%
UAE —%
ERJ —%
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