# EDGAR Filing Document

**Accession Number:** 0001418329
**File Stem:** 0001140361-25-041941
**Filing Date:** 2025-11
**Character Count:** 27082
**Document Hash:** aa8f7ef8288ec2755ab50cf3d7f12e80
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-041941.hdr.sgml**: 20251113

**ACCESSION NUMBER**: 0001140361-25-041941

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251113

**DATE AS OF CHANGE**: 20251113

**EFFECTIVENESS DATE**: 20251113

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ninety One UK Ltd
- **CENTRAL INDEX KEY:** 0001418329

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 13F-HR/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12634
- **FILM NUMBER:** 251477719

**BUSINESS ADDRESS:**
- **STREET 1:** 55 GRESHAM STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC2V 7EL
- **BUSINESS PHONE:** 020 7597 2000

**MAIL ADDRESS:**
- **STREET 1:** 55 GRESHAM STREET
- **CITY:** LONDON
- **STATE:** X0
- **ZIP:** EC2V 7EL

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Investec Asset Management LTD
- **DATE OF NAME CHANGE:** 20071114

### FORM 13F COVER PAGE

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

**Check here if Amendment** [x] **Amendment Number:** 1

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

[x] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Ninety One UK Ltd<br>**Address:** 55 Gresham Street<br>London, X0 EC2V 7EL

**Form 13F File Number:** 028-12634

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:** Richard Brearley<br>**Title:** Head of Compliance<br>**Phone:** 44 20 3938 2513

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

/s/ Richard Brearley  London, X0  11-13-2025<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:** 212

**Form 13F Information Table Value Total:** $46309195208

      (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 |  | 57274089 | 232255 | SH |  | SOLE |  | 232255 | 0 | 0 |
| Adobe Inc | Common Stock | 00724F101 |  | 20374842 | 57760 | SH |  | SOLE |  | 57760 | 0 | 0 |
| AECOM | Common Stock | 00766T100 |  | 172037486 | 1318598 | SH |  | SOLE |  | 1121023 | 0 | 197575 |
| AerCap Holdings NV | Common Stock | N00985106 |  | 335437293 | 2772209 | SH |  | SOLE |  | 1212552 | 0 | 1559657 |
| AGCO Corp | Common Stock | 001084102 |  | 69996265 | 653743 | SH |  | SOLE |  | 509713 | 0 | 144030 |
| Agnico Eagle Mines Ltd | Common Stock | 008474108 |  | 31702963 | 188189 | SH |  | SOLE |  | 149149 | 0 | 39040 |
| Alamos Gold Inc | Common Stock | 011532108 |  | 78777957 | 2259568 | SH |  | SOLE |  | 2054271 | 0 | 205297 |
| Alcon AG | Common Stock | H01301128 |  | 18862460 | 253158 | SH |  | SOLE |  | 253158 | 0 | 0 |
| Alibaba Group Holding Ltd | ADR | 01609W102 |  | 19678533 | 110102 | SH |  | SOLE |  | 110102 | 0 | 0 |
| Align Technology Inc | Common Stock | 016255101 |  | 283897782 | 2267192 | SH |  | SOLE |  | 1788071 | 0 | 479121 |
| Alphabet Inc | Common Stock | 02079K107 |  | 29064530 | 119337 | SH |  | SOLE |  | 119337 | 0 | 0 |
| Alphabet Inc | Common Stock | 02079K305 |  | 2164454465 | 8903556 | SH |  | SOLE |  | 5979337 | 0 | 2924219 |
| Altria Group Inc | Common Stock | 02209S103 |  | 4096 | 62 | SH |  | SOLE |  | 62 | 0 | 0 |
| Amazon.com Inc | Common Stock | 023135106 |  | 1118377398 | 5093489 | SH |  | SOLE |  | 2836197 | 0 | 2257292 |
| Ambev SA | ADR | 02319V103 |  | 3161661 | 1417785 | SH |  | SOLE |  | 1417785 | 0 | 0 |
| American Express Co | Common Stock | 025816109 |  | 14222761 | 42819 | SH |  | SOLE |  | 10442 | 0 | 32377 |
| American Tower Corp | REIT | 03027X100 |  | 32305723 | 167979 | SH |  | SOLE |  | 167979 | 0 | 0 |
| Anglogold Ashanti Plc | Common Stock | G0378L100 |  | 142026095 | 2019424 | SH |  | SOLE |  | 1857250 | 0 | 162174 |
| Anheuser-Busch InBev SA/NV | ADR | 03524A108 |  | 5902 | 99 | SH |  | SOLE |  | 99 | 0 | 0 |
| Aon PLC | Common Stock | G0403H108 |  | 40672232 | 114062 | SH |  | SOLE |  | 114062 | 0 | 0 |
| Apple Inc | Common Stock | 037833100 |  | 725553677 | 2849443 | SH |  | SOLE |  | 1238548 | 0 | 1610895 |
| Applied Materials Inc | Common Stock | 038222105 |  | 30739053 | 150137 | SH |  | SOLE |  | 150137 | 0 | 0 |
| ASE Technology Holding Co Ltd | ADR | 00215W100 |  | 1346881 | 121450 | SH |  | SOLE |  | 121450 | 0 | 0 |
| ASML Holding NV | NY Reg Shrs | N07059210 |  | 54364068 | 56156 | SH |  | SOLE |  | 56156 | 0 | 0 |
| Autodesk Inc | Common Stock | 052769106 |  | 1571166286 | 4945907 | SH |  | SOLE |  | 3535778 | 0 | 1410129 |
| Automatic Data Processing Inc | Common Stock | 053015103 |  | 705266129 | 2402951 | SH |  | SOLE |  | 1954495 | 0 | 448456 |
| AutoZone Inc | Common Stock | 053332102 |  | 286261978 | 66724 | SH |  | SOLE |  | 37482 | 0 | 29242 |
| Baker Hughes Co | Common Stock | 05722G100 |  | 17777977 | 364901 | SH |  | SOLE |  | 325995 | 0 | 38906 |
| Barrick Mining Corp | Common Stock | 06849F108 |  | 452466906 | 13807351 | SH |  | SOLE |  | 8771453 | 0 | 5035898 |
| Becton Dickinson  Co | Common Stock | 075887109 |  | 1689210 | 9025 | SH |  | SOLE |  | 9025 | 0 | 0 |
| Boeing Co/The | Common Stock | 097023105 |  | 192734036 | 892990 | SH |  | SOLE |  | 359732 | 0 | 533258 |
| Booking Holdings Inc | Common Stock | 09857L108 |  | 1158197405 | 214510 | SH |  | SOLE |  | 169195 | 0 | 45315 |
| Boston Scientific Corp | Common Stock | 101137107 |  | 523641050 | 5363526 | SH |  | SOLE |  | 2331829 | 0 | 3031697 |
| Broadcom Inc | Common Stock | 11135F101 |  | 1239564921 | 3757282 | SH |  | SOLE |  | 2050071 | 0 | 1707211 |
| Broadridge Financial Solutions Inc | Common Stock | 11133T103 |  | 638534 | 2681 | SH |  | SOLE |  | 2681 | 0 | 0 |
| Brookfield Infrastructure Corp | Common Stock | 11276H106 |  | 13861965 | 337110 | SH |  | SOLE |  | 337110 | 0 | 0 |
| Brookfield Renewable Corp | Common Stock | 11285B108 |  | 15677452 | 455475 | SH |  | SOLE |  | 455475 | 0 | 0 |
| Cadence Design Systems Inc | Common Stock | 127387108 |  | 61140318 | 174060 | SH |  | SOLE |  | 174060 | 0 | 0 |
| Campbell's Company/The | Common Stock | 134429109 |  | 1882232 | 59602 | SH |  | SOLE |  | 59602 | 0 | 0 |
| Canadian Pacific Kansas City Ltd | Common Stock | 13646K108 |  | 76131576 | 1021992 | SH |  | SOLE |  | 743698 | 0 | 278294 |
| CCC Intelligent Solutions Holdings Inc | Common Stock | 12510Q100 |  | 17538501 | 1925192 | SH |  | SOLE |  | 1925192 | 0 | 0 |
| Centene Corp | Common Stock | 15135B101 |  | 23377503 | 655199 | SH |  | SOLE |  | 160167 | 0 | 495032 |
| CF Industries Holdings Inc | Common Stock | 125269100 |  | 9154424 | 102056 | SH |  | SOLE |  | 91203 | 0 | 10853 |
| Charles Schwab Corp/The | Common Stock | 808513105 |  | 73378632 | 768604 | SH |  | SOLE |  | 579661 | 0 | 188943 |
| Check Point Software Technologies Ltd | Common Stock | M22465104 |  | 538295398 | 2601592 | SH |  | SOLE |  | 2017168 | 0 | 584424 |
| Cheniere Energy Inc | Common Stock | 16411R208 |  | 378757922 | 1611873 | SH |  | SOLE |  | 939387 | 0 | 672486 |
| Chevron Corp | Common Stock | 166764100 |  | 57484165 | 370173 | SH |  | SOLE |  | 330590 | 0 | 39583 |
| Cia Cervecerias Unidas SA | ADR | 204429104 |  | 3790482 | 312746 | SH |  | SOLE |  | 312746 | 0 | 0 |
| Cisco Systems Inc | Common Stock | 17275R102 |  | 9375525 | 137029 | SH |  | SOLE |  | 137029 | 0 | 0 |
| Citizens Financial Group Inc | Common Stock | 174610105 |  | 308945511 | 5811616 | SH |  | SOLE |  | 3204919 | 0 | 2606697 |
| CME Group Inc | Common Stock | 12572Q105 |  | 93440358 | 345832 | SH |  | SOLE |  | 345832 | 0 | 0 |
| Coca-Cola Femsa SAB de CV | ADR | 191241108 |  | 3621914 | 43585 | SH |  | SOLE |  | 43585 | 0 | 0 |
| CONMED Corp | Common Stock | 207410101 |  | 863801 | 18367 | SH |  | SOLE |  | 18367 | 0 | 0 |
| ConocoPhillips | Common Stock | 20825C104 |  | 3069730 | 32453 | SH |  | SOLE |  | 32453 | 0 | 0 |
| Corteva Inc | Common Stock | 22052L104 |  | 38195260 | 564768 | SH |  | SOLE |  | 504591 | 0 | 60177 |
| CoStar Group Inc | Common Stock | 22160N109 |  | 26274002 | 311414 | SH |  | SOLE |  | 311414 | 0 | 0 |
| Coupang Inc | Common Stock | 22266T109 |  | 132165693 | 4104525 | SH |  | SOLE |  | 1883213 | 0 | 2221312 |
| Credicorp Ltd | Common Stock | G2519Y108 |  | 92991087 | 349223 | SH |  | SOLE |  | 175468 | 0 | 173755 |
| CRH PLC | Common Stock | G25508105 |  | 407602636 | 3399803 | SH |  | SOLE |  | 1746298 | 0 | 1653505 |
| Crown Castle Inc | REIT | 22822V101 |  | 40822703 | 423077 | SH |  | SOLE |  | 423077 | 0 | 0 |
| Danaher Corp | Common Stock | 235851102 |  | 8943708 | 45111 | SH |  | SOLE |  | 45111 | 0 | 0 |
| Darling Ingredients Inc | Common Stock | 237266101 |  | 12483797 | 404399 | SH |  | SOLE |  | 360567 | 0 | 43832 |
| Deere  Co | Common Stock | 244199105 |  | 30359320 | 66394 | SH |  | SOLE |  | 59362 | 0 | 7032 |
| Delta Air Lines Inc | Common Stock | 247361702 |  | 219095295 | 3860710 | SH |  | SOLE |  | 2304959 | 0 | 1555751 |
| DENTSPLY SIRONA Inc | Common Stock | 24906P109 |  | 14952045 | 1178254 | SH |  | SOLE |  | 287267 | 0 | 890987 |
| Diamondback Energy Inc | Common Stock | 25278X109 |  | 11886459 | 83064 | SH |  | SOLE |  | 74184 | 0 | 8880 |
| Digital Realty Trust Inc | REIT | 253868103 |  | 25067600 | 145000 | SH |  | SOLE |  | 145000 | 0 | 0 |
| DigitalBridge Group Inc | Common Stock | 25401T603 |  | 1894523 | 161925 | SH |  | SOLE |  | 161925 | 0 | 0 |
| Dolby Laboratories Inc | Common Stock | 25659T107 |  | 29725112 | 410738 | SH |  | SOLE |  | 410738 | 0 | 0 |
| DoorDash Inc | Common Stock | 25809K105 |  | 259154252 | 952808 | SH |  | SOLE |  | 600775 | 0 | 352033 |
| DR Horton Inc | Common Stock | 23331A109 |  | 4728892 | 27904 | SH |  | SOLE |  | 27904 | 0 | 0 |
| Dutch Bros Inc | Common Stock | 26701L100 |  | 135335645 | 2585702 | SH |  | SOLE |  | 1255797 | 0 | 1329905 |
| Edwards Lifesciences Corp | Common Stock | 28176E108 |  | 615049645 | 7908572 | SH |  | SOLE |  | 6312957 | 0 | 1595615 |
| Electronic Arts Inc | Common Stock | 285512109 |  | 856774193 | 4247765 | SH |  | SOLE |  | 3316724 | 0 | 931041 |
| Elevance Health Inc | Common Stock | 036752103 |  | 146720719 | 454075 | SH |  | SOLE |  | 208390 | 0 | 245685 |
| Eli Lilly  Co | Common Stock | 532457108 |  | 333527906 | 437127 | SH |  | SOLE |  | 190804 | 0 | 246323 |
| EQT Corp | Common Stock | 26884L109 |  | 8616977 | 158313 | SH |  | SOLE |  | 141297 | 0 | 17016 |
| Exxon Mobil Corp | Common Stock | 30231G102 |  | 289868865 | 2570899 | SH |  | SOLE |  | 1265396 | 0 | 1305503 |
| FactSet Research Systems Inc | Common Stock | 303075105 |  | 345761916 | 1206890 | SH |  | SOLE |  | 952805 | 0 | 254085 |
| FERRARI NV | Common Stock | N3167Y103 |  | 473048180 | 978120 | SH |  | SOLE |  | 521094 | 0 | 457026 |
| Fiserv Inc | Common Stock | 337738108 |  | 15445301 | 119796 | SH |  | SOLE |  | 119796 | 0 | 0 |
| Flutter Entertainment PLC | Common Stock | G3643J108 |  | 1936073 | 7436 | SH |  | SOLE |  | 7436 | 0 | 0 |
| Fortis Inc/Canada | Common Stock | 349553107 |  | 4817969 | 94967 | SH |  | SOLE |  | 94967 | 0 | 0 |
| Freeport-McMoRan Inc | Common Stock | 35671D857 |  | 179127783 | 4567256 | SH |  | SOLE |  | 2203590 | 0 | 2363666 |
| Gaming and Leisure Properties Inc | REIT | 36467J108 |  | 100143732 | 2148546 | SH |  | SOLE |  | 305399 | 0 | 1843147 |
| Generac Holdings Inc | Common Stock | 368736104 |  | 46910168 | 280228 | SH |  | SOLE |  | 280228 | 0 | 0 |
| General Motors Co | Common Stock | 37045V100 |  | 297374228 | 4877386 | SH |  | SOLE |  | 2322741 | 0 | 2554645 |
| Goldman Sachs Group Inc/The | Common Stock | 38141G104 |  | 489927268 | 615216 | SH |  | SOLE |  | 372923 | 0 | 242293 |
| HDFC Bank Ltd | ADR | 40415F101 |  | 47797936 | 1399237 | SH |  | SOLE |  | 1298605 | 0 | 100632 |
| Hecla Mining Co | Common Stock | 422704106 |  | 75260819 | 6219902 | SH |  | SOLE |  | 5839392 | 0 | 380510 |
| Hilton Worldwide Holdings Inc | Common Stock | 43300A203 |  | 26592604 | 102500 | SH |  | SOLE |  | 102500 | 0 | 0 |
| Home Depot Inc/The | Common Stock | 437076102 |  | 7596098 | 18747 | SH |  | SOLE |  | 18747 | 0 | 0 |
| Humana Inc | Common Stock | 444859102 |  | 18613345 | 71543 | SH |  | SOLE |  | 17511 | 0 | 54032 |
| Huntington Ingalls Industries Inc | Common Stock | 446413106 |  | 12393664 | 43047 | SH |  | SOLE |  | 10525 | 0 | 32522 |
| Huron Consulting Group Inc | Common Stock | 447462102 |  | 8328612 | 56746 | SH |  | SOLE |  | 56746 | 0 | 0 |
| IAMGOLD Corp | Common Stock | 450913108 |  | 54380338 | 4205749 | SH |  | SOLE |  | 4053598 | 0 | 152151 |
| ICICI Bank Ltd | ADR | 45104G104 |  | 287368260 | 9506062 | SH |  | SOLE |  | 4816736 | 0 | 4689326 |
| ICON PLC | Common Stock | G4705A100 |  | 526074672 | 3006141 | SH |  | SOLE |  | 2336517 | 0 | 669624 |
| IDEXX Laboratories Inc | Common Stock | 45168D104 |  | 22720209 | 35562 | SH |  | SOLE |  | 35562 | 0 | 0 |
| Ingersoll Rand Inc | Common Stock | 45687V106 |  | 8440295 | 102158 | SH |  | SOLE |  | 102158 | 0 | 0 |
| Intel Corp | Common Stock | 458140100 |  | 13205718 | 393613 | SH |  | SOLE |  | 95839 | 0 | 297774 |
| Intercontinental Exchange Inc | Common Stock | 45866F104 |  | 259262927 | 1538835 | SH |  | SOLE |  | 764074 | 0 | 774761 |
| InterContinental Hotels Group PLC | ADR | 45857P806 |  | 14188 | 117 | SH |  | SOLE |  | 117 | 0 | 0 |
| Intuit Inc | Common Stock | 461202103 |  | 972760223 | 1424434 | SH |  | SOLE |  | 1119175 | 0 | 305259 |
| Invesco Senior Loan ETF | ETP | 46138G508 |  | 17722457 | 846749 | SH |  | SOLE |  | 28520 | 0 | 818229 |
| iShares 0-5 Year High Yield Corporate Bond ETF | ETP | 46434V407 |  | 26402219 | 609751 | SH |  | SOLE |  | 134047 | 0 | 475704 |
| iShares 1-5 Year Investment Grade Corporate Bond ETF | ETP | 464288646 |  | 345756 | 6520 | SH |  | SOLE |  | 6520 | 0 | 0 |
| iShares Broad USD High Yield Corporate Bond ETF | ETP | 46435U853 |  | 17536381 | 464171 | SH |  | SOLE |  | 164650 | 0 | 299521 |
| iShares MSCI India ETF | ETP | 46429B598 |  | 28939947 | 555896 | SH |  | SOLE |  | 555896 | 0 | 0 |
| iShares MSCI Saudi Arabia ETF | ETP | 46434V423 |  | 23599293 | 581550 | SH |  | SOLE |  | 51475 | 0 | 530075 |
| Jacobs Solutions Inc | Common Stock | 46982L108 |  | 460015657 | 3069636 | SH |  | SOLE |  | 1775558 | 0 | 1294078 |
| Janus Henderson AAA CLO ETF | ETP | 47103U845 |  | 136649 | 2691 | SH |  | SOLE |  | 2691 | 0 | 0 |
| Johnson  Johnson | Common Stock | 478160104 |  | 1231210314 | 6640116 | SH |  | SOLE |  | 4675750 | 0 | 1964366 |
| JPMorgan Chase  Co | Common Stock | 46625H100 |  | 747084293 | 2368463 | SH |  | SOLE |  | 1361600 | 0 | 1006863 |
| Kaspi.KZ JSC | ADR | 48581R205 |  | 16886771 | 206743 | SH |  | SOLE |  | 49694 | 0 | 157049 |
| Kinross Gold Corp | Common Stock | 496902404 |  | 42982852 | 1731029 | SH |  | SOLE |  | 1731029 | 0 | 0 |
| KLA Corp | Common Stock | 482480100 |  | 6964521 | 6457 | SH |  | SOLE |  | 6457 | 0 | 0 |
| Las Vegas Sands Corp | Common Stock | 517834107 |  | 2861682 | 53201 | SH |  | SOLE |  | 53201 | 0 | 0 |
| MakeMyTrip Ltd | Common Stock | V5633W109 |  | 7721439 | 82494 | SH |  | SOLE |  | 82494 | 0 | 0 |
| Marriott International Inc/MD | Common Stock | 571903202 |  | 530517 | 2037 | SH |  | SOLE |  | 2037 | 0 | 0 |
| Marsh  McLennan Cos Inc | Common Stock | 571748102 |  | 271421207 | 1346803 | SH |  | SOLE |  | 1040767 | 0 | 306036 |
| Mastercard Inc | Common Stock | 57636Q104 |  | 689121288 | 1211514 | SH |  | SOLE |  | 644014 | 0 | 567500 |
| McKesson Corp | Common Stock | 58155Q103 |  | 31357402 | 40590 | SH |  | SOLE |  | 9904 | 0 | 30686 |
| MercadoLibre Inc | Common Stock | 58733R102 |  | 3781170 | 1618 | SH |  | SOLE |  | 1618 | 0 | 0 |
| Merck  Co Inc | Common Stock | 58933Y105 |  | 11211874 | 133586 | SH |  | SOLE |  | 133586 | 0 | 0 |
| Meta Platforms Inc | Common Stock | 30303M102 |  | 62225492 | 84732 | SH |  | SOLE |  | 54494 | 0 | 30238 |
| Microsoft Corp | Common Stock | 594918104 |  | 3860512911 | 7453447 | SH |  | SOLE |  | 5126822 | 0 | 2326625 |
| Monster Beverage Corp | Common Stock | 61174X109 |  | 670261876 | 9957835 | SH |  | SOLE |  | 8328594 | 0 | 1629241 |
| Moody's Corp | Common Stock | 615369105 |  | 406653283 | 853453 | SH |  | SOLE |  | 660932 | 0 | 192521 |
| Mosaic Co/The | Common Stock | 61945C103 |  | 22672640 | 653767 | SH |  | SOLE |  | 584019 | 0 | 69748 |
| Motorola Solutions Inc | Common Stock | 620076307 |  | 351142472 | 767877 | SH |  | SOLE |  | 597792 | 0 | 170085 |
| Natera Inc | Common Stock | 632307104 |  | 55401529 | 344173 | SH |  | SOLE |  | 344173 | 0 | 0 |
| NetEase Inc | ADR | 64110W102 |  | 956951868 | 6296150 | SH |  | SOLE |  | 5530421 | 0 | 765729 |
| Newell Brands Inc | Common Stock | 651229106 |  | 5971510 | 1139601 | SH |  | SOLE |  | 1139601 | 0 | 0 |
| Newmont Corp | Common Stock | 651639106 |  | 284863264 | 3378760 | SH |  | SOLE |  | 3160242 | 0 | 218518 |
| Newmont Corp | Equity / Common Stock | 651639106 |  | 3563370 | 42742 | SH |  | SOLE |  | 42742 | 0 | 0 |
| NextEra Energy Inc | Common Stock | 65339F101 |  | 184849727 | 2448665 | SH |  | SOLE |  | 1976064 | 0 | 472601 |
| NIKE Inc | Common Stock | 654106103 |  | 31357166 | 449694 | SH |  | SOLE |  | 449694 | 0 | 0 |
| NOV Inc | Common Stock | 62955J103 |  | 18907222 | 1426960 | SH |  | SOLE |  | 349010 | 0 | 1077950 |
| Novartis AG | ADR | 66987V109 |  | 6669 | 52 | SH |  | SOLE |  | 52 | 0 | 0 |
| NU Holdings Ltd/Cayman Islands | Common Stock | G6683N103 |  | 115269682 | 7199856 | SH |  | SOLE |  | 4118497 | 0 | 3081359 |
| NVIDIA Corp | Common Stock | 67066G104 |  | 2181953120 | 11694464 | SH |  | SOLE |  | 6315628 | 0 | 5378836 |
| O'Reilly Automotive Inc | Common Stock | 67103H107 |  | 22034534 | 204383 | SH |  | SOLE |  | 204383 | 0 | 0 |
| Okta Inc | Common Stock | 679295105 |  | 183737551 | 2003681 | SH |  | SOLE |  | 901575 | 0 | 1102106 |
| Olaplex Holdings Inc | Common Stock | 679369108 |  | 4435554 | 3385918 | SH |  | SOLE |  | 840391 | 0 | 2545527 |
| Pan American Silver Corp | Common Stock | 697900108 |  | 83472914 | 2155252 | SH |  | SOLE |  | 2056793 | 0 | 98459 |
| Paycom Software Inc | Common Stock | 70432V102 |  | 20729290 | 99593 | SH |  | SOLE |  | 24300 | 0 | 75293 |
| PepsiCo Inc | Common Stock | 713448108 |  | 12510116 | 89078 | SH |  | SOLE |  | 89078 | 0 | 0 |
| Philip Morris International Inc | Common Stock | 718172109 |  | 1166605514 | 7192389 | SH |  | SOLE |  | 5996212 | 0 | 1196177 |
| Pinterest Inc | Common Stock | 72352L106 |  | 238914690 | 7426630 | SH |  | SOLE |  | 4432989 | 0 | 2993641 |
| Planet Fitness Inc | Common Stock | 72703H101 |  | 359308168 | 3461543 | SH |  | SOLE |  | 2083267 | 0 | 1378276 |
| Platinum Group Metals Ltd | Common Stock | 72765Q882 |  | 260384 | 98258 | SH |  | SOLE |  | 98258 | 0 | 0 |
| Procter  Gamble Co/The | Common Stock | 742718109 |  | 36642763 | 238482 | SH |  | SOLE |  | 238482 | 0 | 0 |
| Prologis Inc | REIT | 74340W103 |  | 12343082 | 107781 | SH |  | SOLE |  | 107781 | 0 | 0 |
| Qorvo Inc | Common Stock | 74736K101 |  | 37642002 | 413285 | SH |  | SOLE |  | 250556 | 0 | 162729 |
| QUALCOMM Inc | Common Stock | 747525103 |  | 37278286 | 224082 | SH |  | SOLE |  | 90004 | 0 | 134078 |
| Robinhood Markets Inc | Common Stock | 770700102 |  | 152734547 | 1066731 | SH |  | SOLE |  | 470212 | 0 | 596519 |
| ROBLOX Corp | Common Stock | 771049103 |  | 237039029 | 1711226 | SH |  | SOLE |  | 746698 | 0 | 964528 |
| Rockwell Automation Inc | Common Stock | 773903109 |  | 28814205 | 82437 | SH |  | SOLE |  | 82437 | 0 | 0 |
| S Global Inc | Common Stock | 78409V104 |  | 457834956 | 940673 | SH |  | SOLE |  | 739034 | 0 | 201639 |
| Sabre Corp | Common Stock | 78573M104 |  | 9203626 | 5029303 | SH |  | SOLE |  | 1251046 | 0 | 3778257 |
| SAP SE | ADR | 803054204 |  | 28592 | 107 | SH |  | SOLE |  | 107 | 0 | 0 |
| Sea Ltd | ADR | 81141R100 |  | 267377561 | 1495986 | SH |  | SOLE |  | 717402 | 0 | 778584 |
| Sempra | Common Stock | 816851109 |  | 11084368 | 123187 | SH |  | SOLE |  | 123187 | 0 | 0 |
| Sirius XM Holdings Inc | Common Stock | 829933100 |  | 7962145 | 342090 | SH |  | SOLE |  | 342090 | 0 | 0 |
| SLB Ltd | Common Stock | 806857108 |  | 15521322 | 451595 | SH |  | SOLE |  | 110381 | 0 | 341214 |
| Smurfit WestRock PLC | Common Stock | G8267P108 |  | 15801280 | 376677 | SH |  | SOLE |  | 376677 | 0 | 0 |
| SPDR Blackstone Senior Loan ETF | ETP | 78467V608 |  | 25915359 | 623265 | SH |  | SOLE |  | 135234 | 0 | 488031 |
| Spotify Technology SA | Common Stock | L8681T102 |  | 21789465 | 31217 | SH |  | SOLE |  | 19833 | 0 | 11384 |
| Steel Dynamics Inc | Common Stock | 858119100 |  | 16712498 | 119863 | SH |  | SOLE |  | 102400 | 0 | 17463 |
| StoneCo Ltd | Common Stock | G85158106 |  | 80069676 | 4234251 | SH |  | SOLE |  | 2154964 | 0 | 2079287 |
| Stryker Corp | Common Stock | 863667101 |  | 21924391 | 59308 | SH |  | SOLE |  | 59308 | 0 | 0 |
| Synopsys Inc | Common Stock | 871607107 |  | 249850726 | 506396 | SH |  | SOLE |  | 274848 | 0 | 231548 |
| Taiwan Semiconductor Manufacturing Co Ltd | ADR | 874039100 |  | 583463568 | 2089096 | SH |  | SOLE |  | 788856 | 0 | 1300240 |
| Take-Two Interactive Software Inc | Common Stock | 874054109 |  | 484131251 | 1873863 | SH |  | SOLE |  | 1106181 | 0 | 767682 |
| Targa Resources Corp | Common Stock | 87612G101 |  | 14539959 | 86785 | SH |  | SOLE |  | 77496 | 0 | 9289 |
| TD SYNNEX Corp | Common Stock | 87162W100 |  | 322662993 | 1970461 | SH |  | SOLE |  | 1155452 | 0 | 815009 |
| TE Connectivity PLC | Common Stock | G87052109 |  | 119824526 | 545823 | SH |  | SOLE |  | 424910 | 0 | 120913 |
| TechnipFMC PLC | Common Stock | G87110105 |  | 13009545 | 329773 | SH |  | SOLE |  | 295488 | 0 | 34285 |
| Teck Resources Ltd | Common Stock | 878742204 |  | 69818669 | 1590903 | SH |  | SOLE |  | 1494000 | 0 | 96903 |
| Ternium SA | ADR | 880890108 |  | 76697340 | 2208389 | SH |  | SOLE |  | 1104617 | 0 | 1103772 |
| Tesla Inc | Common Stock | 88160R101 |  | 21701002 | 48797 | SH |  | SOLE |  | 48797 | 0 | 0 |
| Tetra Tech Inc | Common Stock | 88162G103 |  | 95808748 | 2870244 | SH |  | SOLE |  | 2274577 | 0 | 595667 |
| Texas Instruments Inc | Common Stock | 882508104 |  | 95992504 | 522465 | SH |  | SOLE |  | 522465 | 0 | 0 |
| Thermo Fisher Scientific Inc | Common Stock | 883556102 |  | 405282236 | 835599 | SH |  | SOLE |  | 555014 | 0 | 280585 |
| TKO Group Holdings Inc | Common Stock | 87256C101 |  | 1002529856 | 4964002 | SH |  | SOLE |  | 2682175 | 0 | 2281827 |
| Tradeweb Markets Inc | Common Stock | 892672106 |  | 178122349 | 1604995 | SH |  | SOLE |  | 869532 | 0 | 735463 |
| Trane Technologies PLC | Common Stock | G8994E103 |  | 235890834 | 559036 | SH |  | SOLE |  | 287602 | 0 | 271434 |
| TransUnion | Common Stock | 89400J107 |  | 296284455 | 3536458 | SH |  | SOLE |  | 1551753 | 0 | 1984705 |
| Triple Flag Precious Metals Corp | Common Stock | 89679M104 |  | 20622482 | 704323 | SH |  | SOLE |  | 683433 | 0 | 20890 |
| Triple Flag Precious Metals Corp | Equity / Common Stock | 89679M104 |  | 640326 | 21884 | SH |  | SOLE |  | 21884 | 0 | 0 |
| Twilio Inc | Common Stock | 90138F102 |  | 151265319 | 1511293 | SH |  | SOLE |  | 713148 | 0 | 798145 |
| UBS Group AG | Common Stock | H42097107 |  | 355051577 | 8689535 | SH |  | SOLE |  | 3923981 | 0 | 4765554 |
| UnitedHealth Group Inc | Common Stock | 91324P102 |  | 32773463 | 94913 | SH |  | SOLE |  | 94913 | 0 | 0 |
| Vale SA | ADR | 91912E105 |  | 82893692 | 7632938 | SH |  | SOLE |  | 4342876 | 0 | 3290062 |
| Valero Energy Corp | Common Stock | 91913Y100 |  | 5629647 | 33065 | SH |  | SOLE |  | 29498 | 0 | 3567 |
| Vanguard Intermediate-Term Corporate Bond ETF | ETP | 92206C870 |  | 219528 | 2610 | SH |  | SOLE |  | 2610 | 0 | 0 |
| Veeva Systems Inc | Common Stock | 922475108 |  | 24734278 | 83026 | SH |  | SOLE |  | 83026 | 0 | 0 |
| Ventas Inc | REIT | 92276F100 |  | 13611866 | 194483 | SH |  | SOLE |  | 194483 | 0 | 0 |
| Veralto Corp | Common Stock | 92338C103 |  | 10229124 | 95949 | SH |  | SOLE |  | 95949 | 0 | 0 |
| VeriSign Inc | Common Stock | 92343E102 |  | 589911990 | 2110069 | SH |  | SOLE |  | 1692119 | 0 | 417950 |
| Visa Inc | Common Stock | 92826C839 |  | 2134391409 | 6252245 | SH |  | SOLE |  | 4997814 | 0 | 1254431 |
| Vista Energy SAB de CV | ADR | 92837L109 |  | 40856599 | 1187692 | SH |  | SOLE |  | 776789 | 0 | 410903 |
| Waste Management Inc | Common Stock | 94106L109 |  | 82276844 | 372580 | SH |  | SOLE |  | 309275 | 0 | 63305 |
| West Pharmaceutical Services Inc | Common Stock | 955306105 |  | 25686832 | 97918 | SH |  | SOLE |  | 97918 | 0 | 0 |
| Williams Cos Inc/The | Common Stock | 969457100 |  | 32262002 | 509266 | SH |  | SOLE |  | 464218 | 0 | 45048 |
| XP Inc | Common Stock | G98239109 |  | 106212800 | 5652624 | SH |  | SOLE |  | 2668668 | 0 | 2983956 |
| Yum China Holdings Inc | Common Stock | 98850P109 |  | 19387568 | 451714 | SH |  | SOLE |  | 451714 | 0 | 0 |
| Yum! Brands Inc | Common Stock | 988498101 |  | 15214138 | 100093 | SH |  | SOLE |  | 100093 | 0 | 0 |
| Zillow Group Inc | Common Stock | 98954M101 |  | 6979123 | 93755 | SH |  | SOLE |  | 93755 | 0 | 0 |
| Zillow Group Inc | Common Stock | 98954M200 |  | 371788368 | 4825287 | SH |  | SOLE |  | 2723718 | 0 | 2101569 |
| Zoetis Inc | Common Stock | 98978V103 |  | 163751401 | 1119132 | SH |  | SOLE |  | 672317 | 0 | 446815 |

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