# EDGAR Filing Document

**Accession Number:** 0001491998
**File Stem:** 0001140361-25-038721
**Filing Date:** 2025-10
**Character Count:** 11672
**Document Hash:** fa415ae6b2305d8cf03a278fb8031d1c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-038721.hdr.sgml**: 20251021

**ACCESSION NUMBER**: 0001140361-25-038721

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251021

**DATE AS OF CHANGE**: 20251021

**EFFECTIVENESS DATE**: 20251021

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ninety One SA (PTY) Ltd
- **CENTRAL INDEX KEY:** 0001491998

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** T3
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16966
- **FILM NUMBER:** 251405286

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 36 HANS STRIJDOM AVENUE
- **CITY:** CAPE TOWN
- **PROVINCE COUNTRY:** T3
- **ZIP:** 8001
- **BUSINESS PHONE:** 27 (0) 21 416 2000

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 36 HANS STRIJDOM AVENUE
- **CITY:** CAPE TOWN
- **PROVINCE COUNTRY:** T3
- **ZIP:** 8001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Investec Asset Management (PTY) Ltd
- **DATE OF NAME CHANGE:** 20100513

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Ninety One SA (PTY) Ltd<br>**Address:** 36 Hans Strijdom Avenue<br>Cape Town, T3 8001

**Form 13F File Number:** 028-16966

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Adam Fletcher<br>**Title:** General Counsel<br>**Phone:** 27 21 901 1895

**Signature, Place, and Date of Signing:**

Adam Fletcher  Cape Town, T3  10-20-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 75

**Form 13F Information Table Value Total:** $687157185

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Abbott Laboratories | Common Stock | 002824100 |  | 1493510 | 11237 | SH |  | SOLE |  | 11237 | 0 | 0 |
| Accenture PLC | Common Stock | G1151C101 |  | 1202301 | 4820 | SH |  | SOLE |  | 4820 | 0 | 0 |
| Adobe Inc | Common Stock | 00724F101 |  | 1604687 | 4517 | SH |  | SOLE |  | 4517 | 0 | 0 |
| AECOM | Common Stock | 00766T100 |  | 8723486 | 66862 | SH |  | SOLE |  | 66862 | 0 | 0 |
| Align Technology Inc | Common Stock | 016255101 |  | 217507 | 1737 | SH |  | SOLE |  | 0 | 0 | 1737 |
| Alphabet Inc | Common Stock | 02079K305 |  | 31705347 | 130766 | SH |  | SOLE |  | 126886 | 0 | 3880 |
| Amazon.com Inc | Common Stock | 023135106 |  | 14212547 | 64729 | SH |  | SOLE |  | 64729 | 0 | 0 |
| American Tower Corp | REIT | 03027X100 |  | 3741358 | 19453 | SH |  | SOLE |  | 19453 | 0 | 0 |
| Apple Inc | Common Stock | 037833100 |  | 9939737 | 39036 | SH |  | SOLE |  | 39036 | 0 | 0 |
| Autodesk Inc | Common Stock | 052769106 |  | 11696001 | 36785 | SH |  | SOLE |  | 34488 | 0 | 2297 |
| Automatic Data Processing Inc | Common Stock | 053015103 |  | 451110 | 1537 | SH |  | SOLE |  | 0 | 0 | 1537 |
| Berkshire Hathaway Inc | Common Stock | 084670108 |  | 68213638 | 91 | SH |  | SOLE |  | 91 | 0 | 0 |
| Booking Holdings Inc | Common Stock | 09857L108 |  | 25188102 | 4663 | SH |  | SOLE |  | 4490 | 0 | 173 |
| Broadcom Inc | Common Stock | 11135F101 |  | 6780641 | 20553 | SH |  | SOLE |  | 20553 | 0 | 0 |
| Charles Schwab Corp/The | Common Stock | 808513105 |  | 785465 | 8199 | SH |  | SOLE |  | 8199 | 0 | 0 |
| Check Point Software Technologies Ltd | Common Stock | M22465104 |  | 5370636 | 25811 | SH |  | SOLE |  | 23686 | 0 | 2125 |
| Cheniere Energy Inc | Common Stock | 16411R208 |  | 5570906 | 23708 | SH |  | SOLE |  | 23708 | 0 | 0 |
| Cisco Systems Inc | Common Stock | 17275R102 |  | 541630 | 7888 | SH |  | SOLE |  | 7888 | 0 | 0 |
| Citizens Financial Group Inc | Common Stock | 174610105 |  | 4329510 | 81443 | SH |  | SOLE |  | 81443 | 0 | 0 |
| Coca-Cola Co/The | Common Stock | 191216100 |  | 3044361 | 45835 | SH |  | SOLE |  | 45835 | 0 | 0 |
| CRH PLC | Common Stock | G25508105 |  | 9122352 | 76083 | SH |  | SOLE |  | 76083 | 0 | 0 |
| Delta Air Lines Inc | Common Stock | 247361702 |  | 3333722 | 58744 | SH |  | SOLE |  | 58744 | 0 | 0 |
| DoorDash Inc | Common Stock | 25809K105 |  | 3294615 | 12113 | SH |  | SOLE |  | 12113 | 0 | 0 |
| Dutch Bros Inc | Common Stock | 26701L100 |  | 2458149 | 46965 | SH |  | SOLE |  | 46965 | 0 | 0 |
| Edwards Lifesciences Corp | Common Stock | 28176E108 |  | 11112999 | 143239 | SH |  | SOLE |  | 137501 | 0 | 5738 |
| Electronic Arts Inc | Common Stock | 285512109 |  | 10594552 | 52530 | SH |  | SOLE |  | 49230 | 0 | 3300 |
| Elevance Health Inc | Common Stock | 036752103 |  | 1565840 | 4846 | SH |  | SOLE |  | 4846 | 0 | 0 |
| Estee Lauder Cos Inc/The | Common Stock | 518439104 |  | 2647390 | 30043 | SH |  | SOLE |  | 30043 | 0 | 0 |
| FactSet Research Systems Inc | Common Stock | 303075105 |  | 305972 | 1068 | SH |  | SOLE |  | 0 | 0 | 1068 |
| Generac Holdings Inc | Common Stock | 368736104 |  | 2944064 | 17587 | SH |  | SOLE |  | 17587 | 0 | 0 |
| General Motors Co | Common Stock | 37045V100 |  | 3593206 | 58934 | SH |  | SOLE |  | 58934 | 0 | 0 |
| Goldman Sachs Group Inc/The | Common Stock | 38141G104 |  | 6612095 | 8303 | SH |  | SOLE |  | 8303 | 0 | 0 |
| HDFC Bank Ltd | ADR | 40415F101 |  | 5653822 | 165510 | SH |  | SOLE |  | 165510 | 0 | 0 |
| ICON PLC | Common Stock | G4705A100 |  | 5454784 | 32608 | SH |  | SOLE |  | 30206 | 0 | 2402 |
| IDEXX Laboratories Inc | Common Stock | 45168D104 |  | 1217086 | 1905 | SH |  | SOLE |  | 1905 | 0 | 0 |
| Intuit Inc | Common Stock | 461202103 |  | 8783416 | 12776 | SH |  | SOLE |  | 11664 | 0 | 1112 |
| Jacobs Solutions Inc | Common Stock | 46982L108 |  | 8304942 | 55418 | SH |  | SOLE |  | 55418 | 0 | 0 |
| Johnson  Johnson | Common Stock | 478160104 |  | 14328260 | 77770 | SH |  | SOLE |  | 74415 | 0 | 3355 |
| JPMorgan Chase  Co | Common Stock | 46625H100 |  | 12854719 | 40753 | SH |  | SOLE |  | 40753 | 0 | 0 |
| Kinross Gold Corp | Common Stock | 496902404 |  | 21583761 | 870664 | SH |  | SOLE |  | 870664 | 0 | 0 |
| Marsh  McLennan Cos Inc | Common Stock | 571748102 |  | 225513 | 1119 | SH |  | SOLE |  | 0 | 0 | 1119 |
| Mastercard Inc | Common Stock | 57636Q104 |  | 10972485 | 19312 | SH |  | SOLE |  | 19312 | 0 | 0 |
| Merck  Co Inc | Common Stock | 58933Y105 |  | 1662446 | 20765 | SH |  | SOLE |  | 20765 | 0 | 0 |
| Meta Platforms Inc | Common Stock | 30303M102 |  | 19193826 | 26124 | SH |  | SOLE |  | 26124 | 0 | 0 |
| Microsoft Corp | Common Stock | 594918104 |  | 70717138 | 136698 | SH |  | SOLE |  | 133950 | 0 | 2748 |
| Monster Beverage Corp | Common Stock | 61174X109 |  | 374648 | 5566 | SH |  | SOLE |  | 0 | 0 | 5566 |
| Moody's Corp | Common Stock | 615369105 |  | 9019384 | 18918 | SH |  | SOLE |  | 18223 | 0 | 695 |
| Motorola Solutions Inc | Common Stock | 620076307 |  | 282148 | 617 | SH |  | SOLE |  | 0 | 0 | 617 |
| NetEase Inc | ADR | 64110W102 |  | 8854724 | 58513 | SH |  | SOLE |  | 53704 | 0 | 4809 |
| Netflix Inc | Common Stock | 64110L106 |  | 17668347 | 14885 | SH |  | SOLE |  | 14885 | 0 | 0 |
| Newmont Corp | Common Stock | 651639106 |  | 4804153 | 56982 | SH |  | SOLE |  | 56982 | 0 | 0 |
| NVIDIA Corp | Common Stock | 67066G104 |  | 29556416 | 158404 | SH |  | SOLE |  | 158404 | 0 | 0 |
| Philip Morris International Inc | Common Stock | 718172109 |  | 16397148 | 100781 | SH |  | SOLE |  | 94892 | 0 | 5889 |
| Pinterest Inc | Common Stock | 72352L106 |  | 3993295 | 124131 | SH |  | SOLE |  | 124131 | 0 | 0 |
| Planet Fitness Inc | Common Stock | 72703H101 |  | 8231963 | 79306 | SH |  | SOLE |  | 79306 | 0 | 0 |
| Procter  Gamble Co/The | Common Stock | 742718109 |  | 913076 | 5936 | SH |  | SOLE |  | 5936 | 0 | 0 |
| Prologis Inc | REIT | 74340W103 |  | 279019 | 2462 | SH |  | SOLE |  | 2462 | 0 | 0 |
| QUALCOMM Inc | Common Stock | 747525103 |  | 1482385 | 8900 | SH |  | SOLE |  | 8900 | 0 | 0 |
| S Global Inc | Common Stock | 78409V104 |  | 6129050 | 12612 | SH |  | SOLE |  | 11863 | 0 | 749 |
| Synopsys Inc | Common Stock | 871607107 |  | 3538594 | 7172 | SH |  | SOLE |  | 7172 | 0 | 0 |
| Taiwan Semiconductor Manufacturing Co Ltd | ADR | 874039100 |  | 18246238 | 65548 | SH |  | SOLE |  | 65548 | 0 | 0 |
| Take-Two Interactive Software Inc | Common Stock | 874054109 |  | 10437228 | 40398 | SH |  | SOLE |  | 40398 | 0 | 0 |
| TD SYNNEX Corp | Common Stock | 87162W100 |  | 4454001 | 27200 | SH |  | SOLE |  | 27200 | 0 | 0 |
| Teck Resources Ltd | Common Stock | 878742204 |  | 14002472 | 321421 | SH |  | SOLE |  | 321421 | 0 | 0 |
| Tesla Inc | Common Stock | 88160R101 |  | 4024717 | 9050 | SH |  | SOLE |  | 9050 | 0 | 0 |
| Texas Instruments Inc | Common Stock | 882508104 |  | 884464 | 4842 | SH |  | SOLE |  | 4842 | 0 | 0 |
| Thermo Fisher Scientific Inc | Common Stock | 883556102 |  | 7404801 | 15267 | SH |  | SOLE |  | 15267 | 0 | 0 |
| TKO Group Holdings Inc | Common Stock | 87256C101 |  | 14446199 | 71530 | SH |  | SOLE |  | 71530 | 0 | 0 |
| Tradeweb Markets Inc | Common Stock | 892672106 |  | 3186791 | 28715 | SH |  | SOLE |  | 28715 | 0 | 0 |
| Twilio Inc | Common Stock | 90138F102 |  | 2418175 | 24160 | SH |  | SOLE |  | 24160 | 0 | 0 |
| Valero Energy Corp | Common Stock | 91913Y100 |  | 12952290 | 76514 | SH |  | SOLE |  | 76514 | 0 | 0 |
| VeriSign Inc | Common Stock | 92343E102 |  | 3981366 | 14281 | SH |  | SOLE |  | 12146 | 0 | 2135 |
| Verisk Analytics Inc | Common Stock | 92345Y106 |  | 7040353 | 28023 | SH |  | SOLE |  | 28023 | 0 | 0 |
| Visa Inc | Common Stock | 92826C839 |  | 24597407 | 72154 | SH |  | SOLE |  | 67604 | 0 | 4550 |
| Zillow Group Inc | Common Stock | 98954M200 |  | 4206699 | 54597 | SH |  | SOLE |  | 54597 | 0 | 0 |

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