# EDGAR Filing Document

**Accession Number:** 0001633343
**File Stem:** 0001140361-23-004782
**Filing Date:** 2023-2
**Character Count:** 12350
**Document Hash:** 9550d192ecb50360f36c61fe539178fb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-23-004782.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001140361-23-004782

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230207

**EFFECTIVENESS DATE**: 20230207

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ninety One North America, Inc.
- **CENTRAL INDEX KEY:** 0001633343
- **IRS NUMBER:** 900948553

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16538
- **FILM NUMBER:** 23592642

**BUSINESS ADDRESS:**
- **STREET 1:** 65 E 55TH ST
- **STREET 2:** 30TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 917-206-5179

**MAIL ADDRESS:**
- **STREET 1:** 65 E 55TH ST
- **STREET 2:** 30TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Investec Asset Management North America, Inc.
- **DATE OF NAME CHANGE:** 20150210

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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 North America Inc.<br>**Address:** 65 E 55TH ST<br>30th Floor<br>New York, NY 10022

**Form 13F File Number:** 028-16538

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:** Dana Troetel<br>**Title:** Head of Legal America and Chief Compliance Officer<br>**Phone:** 917-206-5136

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

/s/ Dana Troetel  New York, NY  02-06-2023<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:** 82

**Form 13F Information Table Value Total:** $2045013046

      (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 |
| ACCENTURE PLC | Common Stock | G1151C101 |  | 4287585 | 16068 | SH |  | SOLE |  | 16068 | 0 | 0 |
| ACTIVISION BLIZZARD INC | Common Stock | 00507V109 |  | 6822442 | 89124 | SH |  | SOLE |  | 89124 | 0 | 0 |
| ADOBE INC | Common Stock | 00724F101 |  | 6669352 | 19818 | SH |  | SOLE |  | 19818 | 0 | 0 |
| AGILENT TECHNOLOGIES INC | Common Stock | 00846U101 |  | 4346884 | 29047 | SH |  | SOLE |  | 29047 | 0 | 0 |
| AIR PRODUCTS AND CHEMICALS INC | Common Stock | 009158106 |  | 2140557 | 6944 | SH |  | SOLE |  | 6944 | 0 | 0 |
| ALCON INC | Common Stock | H01301128 |  | 5260801 | 76744 | SH |  | SOLE |  | 76744 | 0 | 0 |
| ALIGN TECHNOLOGY INC | Common Stock | 016255101 |  | 3424805 | 16239 | SH |  | SOLE |  | 16239 | 0 | 0 |
| ALLEGION PLC | Common Stock | G0176J109 |  | 5257105 | 49944 | SH |  | SOLE |  | 49944 | 0 | 0 |
| ALPHABET INC | Common Stock | 02079K305 |  | 26212251 | 297090 | SH |  | SOLE |  | 297090 | 0 | 0 |
| ANALOG DEVICES INC | Common Stock | 032654105 |  | 3502697 | 21354 | SH |  | SOLE |  | 21354 | 0 | 0 |
| ANSYS INC | Common Stock | 03662Q105 |  | 3841523 | 15901 | SH |  | SOLE |  | 15901 | 0 | 0 |
| APTIV PLC | Common Stock | G6095L109 |  | 3335544 | 35816 | SH |  | SOLE |  | 35816 | 0 | 0 |
| ASML HOLDING NV | NY Reg Shrs | N07059210 |  | 4044999 | 7403 | SH |  | SOLE |  | 7403 | 0 | 0 |
| AUTODESK INC | Common Stock | 052769106 |  | 74313153 | 397673 | SH |  | SOLE |  | 397673 | 0 | 0 |
| AUTOMATIC DATA PROCESSING INC | Common Stock | 053015103 |  | 67370463 | 282050 | SH |  | SOLE |  | 282050 | 0 | 0 |
| BECTON DICKINSON AND CO | Common Stock | 075887109 |  | 74336976 | 292320 | SH |  | SOLE |  | 292320 | 0 | 0 |
| BOOKING HOLDINGS INC | Common Stock | 09857L108 |  | 97090145 | 48177 | SH |  | SOLE |  | 48177 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | Common Stock | 101137107 |  | 5762929 | 124550 | SH |  | SOLE |  | 124550 | 0 | 0 |
| BROADCOM INC | Common Stock | 11135F101 |  | 7203272 | 12883 | SH |  | SOLE |  | 12883 | 0 | 0 |
| CADENCE DESIGN SYSTEMS INC | Common Stock | 127387108 |  | 4087324 | 25444 | SH |  | SOLE |  | 25444 | 0 | 0 |
| CHARLES SCHWAB CORP/THE | Common Stock | 808513105 |  | 56399658 | 677392 | SH |  | SOLE |  | 677392 | 0 | 0 |
| CHECK POINT SOFTWARE TECHNOLOG | Common Stock | M22465104 |  | 54907860 | 435224 | SH |  | SOLE |  | 435224 | 0 | 0 |
| COSTAR GROUP INC | Common Stock | 22160N109 |  | 4960603 | 64190 | SH |  | SOLE |  | 64190 | 0 | 0 |
| DOLBY LABORATORIES INC | Common Stock | 25659T107 |  | 5917248 | 83885 | SH |  | SOLE |  | 83885 | 0 | 0 |
| EBAY INC | Common Stock | 278642103 |  | 3613240 | 87129 | SH |  | SOLE |  | 87129 | 0 | 0 |
| ELECTRONIC ARTS INC | Common Stock | 285512109 |  | 66908578 | 547623 | SH |  | SOLE |  | 547623 | 0 | 0 |
| ESTEE LAUDER COS INC/THE | Common Stock | 518439104 |  | 78548152 | 316586 | SH |  | SOLE |  | 316586 | 0 | 0 |
| FACTSET RESEARCH SYSTEMS INC | Common Stock | 303075105 |  | 59373864 | 147987 | SH |  | SOLE |  | 147987 | 0 | 0 |
| FOX CORP | Common Stock | 35137L105 |  | 32562987 | 1072209 | SH |  | SOLE |  | 1072209 | 0 | 0 |
| GENERAL MOTORS CO | Common Stock | 37045V100 |  | 3134609 | 93181 | SH |  | SOLE |  | 93181 | 0 | 0 |
| HDFC BANK LTD | ADR | 40415F101 |  | 7384517 | 107945 | SH |  | SOLE |  | 107945 | 0 | 0 |
| HESS CORP | Common Stock | 42809H107 |  | 4629998 | 32647 | SH |  | SOLE |  | 32647 | 0 | 0 |
| HUNTINGTON BANCSHARES INC/OH | Common Stock | 446150104 |  | 4359410 | 309178 | SH |  | SOLE |  | 309178 | 0 | 0 |
| ICON PLC | Common Stock | G4705A100 |  | 52265293 | 269062 | SH |  | SOLE |  | 269062 | 0 | 0 |
| IDEXX LABORATORIES INC | Common Stock | 45168D104 |  | 2642357 | 6477 | SH |  | SOLE |  | 6477 | 0 | 0 |
| INFOSYS LTD | ADR | 456788108 |  | 53974907 | 2996941 | SH |  | SOLE |  | 2996941 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE INC | Common Stock | 45866F104 |  | 5617931 | 54761 | SH |  | SOLE |  | 54761 | 0 | 0 |
| INTUIT INC | Common Stock | 461202103 |  | 86702647 | 222760 | SH |  | SOLE |  | 222760 | 0 | 0 |
| INVESCO SENIOR LOAN ETF | ETP | 46138G508 |  | 1073719 | 52300 | SH |  | SOLE |  | 52300 | 0 | 0 |
| IQVIA HOLDINGS INC | Common Stock | 46266C105 |  | 4899739 | 23914 | SH |  | SOLE |  | 23914 | 0 | 0 |
| ISHARES MSCI INDIA ETF | ETP | 46429B598 |  | 4244457 | 101688 | SH |  | SOLE |  | 101688 | 0 | 0 |
| ISHARES MSCI SAUDI ARABIA ETF | ETP | 46434V423 |  | 4818617 | 127747 | SH |  | SOLE |  | 127747 | 0 | 0 |
| JACOBS SOLUTIONS INC | Common Stock | 46982L108 |  | 4459280 | 37139 | SH |  | SOLE |  | 37139 | 0 | 0 |
| JOHNSON  JOHNSON | Common Stock | 478160104 |  | 84605104 | 478942 | SH |  | SOLE |  | 478942 | 0 | 0 |
| KEYSIGHT TECHNOLOGIES INC | Common Stock | 49338L103 |  | 7234721 | 42291 | SH |  | SOLE |  | 42291 | 0 | 0 |
| M BANK CORP | Common Stock | 55261F104 |  | 3677996 | 25355 | SH |  | SOLE |  | 25355 | 0 | 0 |
| MARSH  MCLENNAN COS INC | Common Stock | 571748102 |  | 4604646 | 27826 | SH |  | SOLE |  | 27826 | 0 | 0 |
| MASTERCARD INC | Common Stock | 57636Q104 |  | 14142875 | 40672 | SH |  | SOLE |  | 40672 | 0 | 0 |
| META PLATFORMS INC | Common Stock | 30303M102 |  | 3009102 | 25005 | SH |  | SOLE |  | 25005 | 0 | 0 |
| MICROSOFT CORP | Common Stock | 594918104 |  | 130611008 | 544621 | SH |  | SOLE |  | 544621 | 0 | 0 |
| MONDELEZ INTERNATIONAL INC | Common Stock | 609207105 |  | 5797350 | 86982 | SH |  | SOLE |  | 86982 | 0 | 0 |
| MONSTER BEVERAGE CORP | Common Stock | 61174X109 |  | 5170618 | 50927 | SH |  | SOLE |  | 50927 | 0 | 0 |
| MOODY'S CORP | Common Stock | 615369105 |  | 109954040 | 394638 | SH |  | SOLE |  | 394638 | 0 | 0 |
| MOSAIC CO/THE | Common Stock | 61945C103 |  | 18338976 | 418030 | SH |  | SOLE |  | 418030 | 0 | 0 |
| NETEASE INC | ADR | 64110W102 |  | 45607210 | 627939 | SH |  | SOLE |  | 627939 | 0 | 0 |
| NEXTERA ENERGY INC | Common Stock | 65339F101 |  | 4193209 | 50158 | SH |  | SOLE |  | 50158 | 0 | 0 |
| NVIDIA CORP | Common Stock | 67066G104 |  | 10387631 | 71080 | SH |  | SOLE |  | 71080 | 0 | 0 |
| O'REILLY AUTOMOTIVE INC | Common Stock | 67103H107 |  | 4825320 | 5717 | SH |  | SOLE |  | 5717 | 0 | 0 |
| PHILIP MORRIS INTERNATIONAL IN | Common Stock | 718172109 |  | 71559417 | 707039 | SH |  | SOLE |  | 707039 | 0 | 0 |
| PIONEER NATURAL RESOURCES CO | Common Stock | 723787107 |  | 1990419 | 8715 | SH |  | SOLE |  | 8715 | 0 | 0 |
| QIAGEN NV | Common Stock | N72482123 |  | 6062147 | 121559 | SH |  | SOLE |  | 121559 | 0 | 0 |
| ROCKWELL AUTOMATION INC | Common Stock | 773903109 |  | 4047455 | 15714 | SH |  | SOLE |  | 15714 | 0 | 0 |
| S GLOBAL INC | Common Stock | 78409V104 |  | 66737130 | 199251 | SH |  | SOLE |  | 199251 | 0 | 0 |
| SOCIEDAD QUIMICA Y MINERA DE C | ADR | 833635105 |  | 17564401 | 219995 | SH |  | SOLE |  | 219995 | 0 | 0 |
| STARBUCKS CORP | Common Stock | 855244109 |  | 5822544 | 58695 | SH |  | SOLE |  | 58695 | 0 | 0 |
| STRYKER CORP | Common Stock | 863667101 |  | 4209384 | 17217 | SH |  | SOLE |  | 17217 | 0 | 0 |
| SVB FINANCIAL GROUP | Common Stock | 78486Q101 |  | 1528590 | 6642 | SH |  | SOLE |  | 6642 | 0 | 0 |
| SYNOPSYS INC | Common Stock | 871607107 |  | 4857997 | 15215 | SH |  | SOLE |  | 15215 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MANUFACTU | ADR | 874039100 |  | 11300803 | 151709 | SH |  | SOLE |  | 151709 | 0 | 0 |
| TAPESTRY INC | Common Stock | 876030107 |  | 3485995 | 91544 | SH |  | SOLE |  | 91544 | 0 | 0 |
| TE CONNECTIVITY LTD | Common Stock | H84989104 |  | 4019033 | 35009 | SH |  | SOLE |  | 35009 | 0 | 0 |
| TERNIUM SA | ADR | 880890108 |  | 14903501 | 487680 | SH |  | SOLE |  | 487680 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | Common Stock | 883556102 |  | 7346755 | 13341 | SH |  | SOLE |  | 13341 | 0 | 0 |
| TRADEWEB MARKETS INC | Common Stock | 892672106 |  | 3638547 | 56038 | SH |  | SOLE |  | 56038 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | Common Stock | G8994E103 |  | 4426818 | 26336 | SH |  | SOLE |  | 26336 | 0 | 0 |
| TRIP.COM GROUP LTD | ADR | 89677Q107 |  | 11615263 | 337653 | SH |  | SOLE |  | 337653 | 0 | 0 |
| UNITEDHEALTH GROUP INC | Common Stock | 91324P102 |  | 5126841 | 9670 | SH |  | SOLE |  | 9670 | 0 | 0 |
| VALE SA | ADR | 91912E105 |  | 44375532 | 2614940 | SH |  | SOLE |  | 2614940 | 0 | 0 |
| VERISIGN INC | Common Stock | 92343E102 |  | 100439821 | 488901 | SH |  | SOLE |  | 488901 | 0 | 0 |
| VISA INC | Common Stock | 92826C839 |  | 178344508 | 858416 | SH |  | SOLE |  | 858416 | 0 | 0 |
| WASTE MANAGEMENT INC | Common Stock | 94106L109 |  | 3163015 | 20162 | SH |  | SOLE |  | 20162 | 0 | 0 |
| ZOETIS INC | Common Stock | 98978V103 |  | 3576846 | 24407 | SH |  | SOLE |  | 24407 | 0 | 0 |

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