UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
06-30-2025
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 North America, Inc.
Address:
65 E 55TH ST
30th Floor
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
Title:
Head of Legal, America and Chief Compliance Officer
Phone:
917-206-5136


Signature, Place, and Date of Signing:

/s/ Dana Troetel
                         [Signature]
New York, NEW YORK
                 [City, State]
07-17-2025
                           [Date]
                          

Report Type (Check only one.):

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

☐ 13F NOTICE. (Check here if no holdings reported are 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:
65
Form 13F Information table Value Total:
2037387480
          (thousands)

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


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
Abbott LaboratoriesCommon Stock0028241001,206,0018,867SHSOLE8,867 0 0
Accenture PLCCommon StockG1151C10133,516,330112,136SHSOLE54,324 0 57,812
AECOMCommon Stock00766T10014,840,413131,494SHSOLE72,659 0 58,835
Align Technology IncCommon Stock01625510126,342,051139,133SHSOLE99,147 0 39,986
Alphabet IncCommon Stock02079K30565,884,643373,856SHSOLE266,427 0 107,429
Aon PLCCommon StockG0403H10840,950,697114,785SHSOLE54,509 0 60,276
Arthur J Gallagher & CoCommon Stock3635761091,065,3603,328SHSOLE3,328 0 0
ASE Technology Holding Co LtdADR00215W1002,815,215272,528SHSOLE272,528 0 0
Autodesk IncCommon Stock05276910690,617,950292,722SHSOLE195,700 0 97,022
Automatic Data Processing IncCommon Stock05301510350,974,203165,286SHSOLE120,511 0 44,775
Becton Dickinson & CoCommon Stock075887109738,7814,289SHSOLE4,289 0 0
Booking Holdings IncCommon Stock09857L10891,058,95615,729SHSOLE11,055 0 4,674
Broadridge Financial Solutions IncCommon Stock11133T103522,0292,148SHSOLE2,148 0 0
Canadian Pacific Kansas City LtdCommon Stock13646K10816,394,285206,785SHSOLE126,347 0 80,438
Check Point Software Technologies LtdCommon StockM2246510444,259,072200,041SHSOLE142,465 0 57,576
CME Group IncCommon Stock12572Q105847,5323,075SHSOLE3,075 0 0
Coca-Cola Co/TheCommon Stock1912161001,019,64914,412SHSOLE14,412 0 0
Coupang IncCommon Stock22266T10932,962,8311,100,228SHSOLE636,566 0 463,662
Credicorp LtdCommon StockG2519Y10846,234,889206,849SHSOLE124,500 0 82,349
Edwards Lifesciences CorpCommon Stock28176E10837,570,677480,382SHSOLE342,271 0 138,111
Electronic Arts IncCommon Stock28551210951,584,378323,008SHSOLE227,351 0 95,657
Embraer SAADR29082A1075,043,59288,624SHSOLE88,624 0 0
Equifax IncCommon Stock294429105676,9562,610SHSOLE2,610 0 0
FactSet Research Systems IncCommon Stock30307510537,878,35584,686SHSOLE59,617 0 25,069
Fomento Economico Mexicano SAB de CVADR34441910622,865,886222,042SHSOLE142,691 0 79,351
HDFC Bank LtdADR40415F1018,676,131113,162SHSOLE113,162 0 0
ICICI Bank LtdADR45104G1049,152,032272,058SHSOLE272,058 0 0
ICON PLCCommon StockG4705A10062,376,378428,851SHSOLE255,660 0 173,191
Intercontinental Exchange IncCommon Stock45866F1041,574,5408,582SHSOLE8,582 0 0
Intuit IncCommon Stock46120210384,200,798106,904SHSOLE76,180 0 30,724
Invesco Senior Loan ETFETP46138G508418,40020,000SHSOLE20,000 0 0
iShares MSCI India ETFETP46429B59833,195,748596,188SHSOLE596,188 0 0
Jack Henry & Associates IncCommon Stock426281101157,829876SHSOLE876 0 0
Johnson & JohnsonCommon Stock47816010436,777,618240,770SHSOLE170,089 0 70,681
MakeMyTrip LtdCommon StockV5633W10919,886,396202,881SHSOLE119,638 0 83,243
Marsh & McLennan Cos IncCommon Stock57174810221,436,55998,045SHSOLE67,749 0 30,296
Mastercard IncCommon Stock57636Q10473,525,916130,843SHSOLE67,859 0 62,984
MercadoLibre IncCommon Stock58733R10215,927,4626,094SHSOLE6,094 0 0
Microsoft CorpCommon Stock594918104136,918,569275,263SHSOLE197,799 0 77,464
Monster Beverage CorpCommon Stock61174X10932,743,557522,726SHSOLE367,090 0 155,636
Moody's CorpCommon Stock61536910532,394,18764,583SHSOLE45,715 0 18,868
Motorola Solutions IncCommon Stock62007630718,884,96144,915SHSOLE31,581 0 13,334
NetEase IncADR64110W10265,102,403483,745SHSOLE337,921 0 145,824
NextEra Energy IncCommon Stock65339F10122,944,005330,510SHSOLE193,284 0 137,226
Otis Worldwide CorpCommon Stock68902V107544,0165,494SHSOLE5,494 0 0
Philip Morris International IncCommon Stock718172109126,307,520693,502SHSOLE535,538 0 157,964
Procter & Gamble Co/TheCommon Stock7427181095,719,42935,899SHSOLE35,899 0 0
Roper Technologies IncCommon Stock776696106810,0151,429SHSOLE1,429 0 0
S&P Global IncCommon Stock78409V10436,125,16668,511SHSOLE48,390 0 20,121
Sea LtdADR81141R10053,358,384333,615SHSOLE226,602 0 107,013
SPDR Blackstone Senior Loan ETFETP78467V608664,19315,970SHSOLE15,970 0 0
STERIS PLCCommon StockG8473T100417,2631,737SHSOLE1,737 0 0
StoneCo LtdCommon StockG851581067,576,735472,365SHSOLE329,615 0 142,750
Taiwan Semiconductor Manufacturing Co LtdADR87403910070,756,835312,406SHSOLE168,110 0 144,296
TE Connectivity PLCCommon StockG8705210917,504,067103,777SHSOLE57,344 0 46,433
TechnipFMC PLCCommon StockG871101053,638,035105,634SHSOLE105,634 0 0
Ternium SAADR88089010830,793,7751,023,049SHSOLE572,618 0 450,431
Tetra Tech IncCommon Stock88162G10313,837,013384,789SHSOLE212,621 0 172,168
UnitedHealth Group IncCommon Stock91324P102687,5822,204SHSOLE2,204 0 0
Vale SAADR91912E10524,191,1842,491,368SHSOLE1,548,653 0 942,715
VeriSign IncCommon Stock92343E10260,386,636209,095SHSOLE144,874 0 64,221
Visa IncCommon Stock92826C839153,963,527433,639SHSOLE309,093 0 124,546
Vista Energy SAB de CVADR92837L10926,209,490548,201SHSOLE363,461 0 184,740
Waste Management IncCommon Stock94106L1099,358,73840,900SHSOLE22,600 0 18,300
Zoetis IncCommon Stock98978V103373,6572,396SHSOLE2,396 0 0