CIK: 0001657111
Total reported value
$2.2B
Reporting period: 2026-03-31 · Number of holdings: 122
NS Partners Ltd disclosed 122 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $2.2B and a quarterly turnover rate of 57.8%.
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NS Partners Ltd's disclosed holdings carry a Herfindahl concentration index of 0.033 — mathematically equivalent to about 30 equally-sized positions, well below its 122 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.17), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim MSFT
-23.3% -$100.2M
Trim GOOG
-20.2% -$56.4M
Add AVGO
+109.4% $25.5M
Trim META
-27.6% -$42.0M
Add TSM
+364.6% $19.8M
Add WEC
+51.4% $14.7M
Showing top 71 holdings (of 122 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 9.33% | +0.76% | +1.81% | |
| 2 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 6.80% | -1.36% | -20.22% | |
| 3 | MSFT | Microsoft CORP | Stock-Tech | 6.37% | -3.13% | -23.32% | |
| 4 | AAPL | Apple INC | Stock-Tech | 6.06% | +0.15% | -3.81% | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 4.13% | -0.55% | -14.36% | |
| 6 | META | Meta Platforms Inc-class A | Stock-Comm Services | 3.16% | -1.25% | -27.62% | |
| 7 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 2.65% | +2.65% | NEW | |
| 8 | JPM | Jpmorgan Chase & Co | Stock-Financials | 2.56% | — | +20.81% | |
| 9 | AVGO | Broadcom INC | Stock-Tech | 2.45% | +1.31% | +109.42% | |
| 10 | MA | Mastercard INC - A | Stock-Financials | 2.14% | -0.11% | -5.09% | |
| 11 | AMAT | Applied Materials INC | Stock-Tech | 2.09% | +2.09% | NEW | |
| 12 | V | Visa Inc-class A Shares | Stock-Financials | 2.06% | -0.11% | -3.62% | |
| 13 | NEE | Nextera Energy INC | Stock-Utilities | 1.99% | — | -1.61% | |
| 14 | MAR | Marriott International -cl A | Stock-Consumer Disc | 1.96% | — | -2.99% | |
| 15 | UNH | Unitedhealth Group INC | Stock-Healthcare | 1.79% | -0.16% | -1.96% | |
| 16 | TMUS | T-mobile US INC | Stock-Comm Services | 1.75% | — | -1.72% | |
| 17 | WEC | Wec Energy Group INC | Stock-Utilities | 1.66% | +0.79% | +51.43% | |
| 18 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 1.63% | — | -3.16% | |
| 19 | T | At&t INC | Stock-Comm Services | 1.61% | +1.61% | NEW | |
| 20 | SYK | Stryker CORP | Stock-Healthcare | 1.58% | — | -3.59% | |
| 21 | VIST | Vista Energy Sab De Cv | Stock-Other | 1.56% | +1.56% | NEW | |
| 22 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.49% | — | -2.45% | |
| 23 | ISRG | Intuitive Surgical INC | Stock-Healthcare | 1.48% | — | -1.06% | |
| 24 | XOM | Exxon Mobil CORP | Stock-Energy | 1.39% | +1.39% | NEW | |
| 25 | GEV | GE Vernova INC | Stock-Industrials | 1.35% | +1.35% | NEW | |
| 26 | YUM | Yum! Brands INC | Stock-Consumer Disc | 1.35% | — | +11.34% | |
| 27 | GE | General Electric | Stock-Industrials | 1.35% | +1.35% | NEW | |
| 28 | PM | Philip Morris International | Stock-Consumer Staples | 1.33% | +0.67% | +71.15% | |
| 29 | BAC | Bank Of America CORP | Stock-Financials | 1.28% | — | +24.85% | |
| 30 | CVX | Chevron CORP | Stock-Energy | 1.22% | +1.22% | NEW | |
| 31 | VRSN | Verisign INC | Stock-Tech | 1.13% | — | -2.29% | |
| 32 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.10% | +0.91% | +364.57% | |
| 33 | APH | Amphenol Corp-cl A | Stock-Tech | 1.09% | +1.09% | NEW | |
| 34 | HDB | Hdfc Bank Ltd-adr | Stock-Financials | 1.08% | -0.28% | +2.05% | |
| 35 | MNST | Monster Beverage CORP | Stock-Consumer Staples | 1.07% | — | -1.08% | |
| 36 | NOC | Northrop Grumman CORP | Stock-Industrials | 1.04% | — | -2.42% | |
| 37 | BSX | Boston Scientific CORP | Stock-Healthcare | 1.01% | -0.33% | -0.19% | |
| 38 | WFC | Wells Fargo & Co | Stock-Financials | 0.94% | +0.94% | NEW | |
| 39 | ZTS | Zoetis INC | Stock-Healthcare | 0.91% | — | -1.75% | |
| 40 | IDXX | Idexx Laboratories INC | Stock-Healthcare | 0.89% | — | -0.99% | |
| 41 | LMT | Lockheed Martin CORP | Stock-Industrials | 0.86% | — | -2.16% | |
| 42 | HON | Honeywell International INC | Stock-Industrials | 0.85% | — | -1.89% | |
| 43 | HTHT | H World Group Ltd-adr | Stock-Other | 0.80% | +0.80% | NEW | |
| 44 | FUTU | Futu Holdings Ltd-adr | Stock-Financials | 0.77% | — | +0.09% | |
| 45 | BAP | Credicorp Ltd. | Stock-Financials | 0.75% | +0.75% | NEW | |
| 46 | PBR | Petroleo Brasileiro-spon Adr | Stock-Energy | 0.73% | +0.73% | NEW | |
| 47 | EW | Edwards Lifesciences CORP | Stock-Healthcare | 0.69% | — | -0.36% | |
| 48 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.69% | — | -3.23% | |
| 49 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.67% | +0.67% | NEW | |
| 50 | CCI | Crown Castle INC | Stock-Real Estate | 0.56% | — | +0.05% |
Performance for Q3 2026
+0.8%
Performance Last 4 Quarters
+5.7%
Based on 80% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 122 | $2.2B | 58 | |
| 2025-12-31 | 130 | $2.6B | 16 | |
| 2025-09-30 | 130 | $2.6B | 26 | |
| 2025-06-30 | 128 | $2.4B | 0 | |
| 2025-03-31 | 130 | $2.3B | 100 | |
| 2024-12-31 | 134 | $2.4B | 0 | |
| 2024-09-30 | 132 | $2.4B | 0 | |
| 2024-06-30 | 74 | $2.2B | 0 | |
| 2024-03-31 | 75 | $2.2B | 0 | |
| 2023-12-31 | 75 | $2.1B | 0 | |
| 2023-09-30 | 75 | $1.9B | 0 | |
| 2023-06-30 | 73 | $1.9B | 0 | |
| 2023-03-31 | 74 | $1.8B | 0 | |
| 2022-12-31 | 76 | $1.7B | 0 | |
| 2022-09-30 | 76 | $1.5B | 0 | |
| 2022-06-30 | 80 | $1.6B | 0 | |
| 2022-03-31 | 76 | $1.9B | 0 | |
| 2021-12-31 | 77 | $2.1B | 0 | |
| 2021-09-30 | 71 | $2.0B | 0 | |
| 2021-06-30 | 71 | $1.9B | 100 | |
| 2021-03-31 | 73 | $1.7B | 11 | |
| 2020-12-31 | 70 | $1.7B | 17 | |
| 2020-09-30 | 72 | $1.5B | 20 | |
| 2020-06-30 | 76 | $1.4B | 32 | |
| 2020-03-31 | 75 | $1.1B | 27 | |
| 2019-12-31 | 84 | $1.3B | 16 | |
| 2019-09-30 | 79 | $1.1B | 10 | |
| 2019-06-30 | 91 | $1.1B | 15 | |
| 2019-03-31 | 110 | $1.1B | 20 | |
| 2018-12-31 | 91 | $934.1M | 21 | |
| 2018-09-30 | 96 | $1.0B | 23 | |
| 2018-06-30 | 99 | $975.0M | 21 | |
| 2018-03-31 | 99 | $936.3M | 20 | |
| 2017-12-31 | 104 | $910.7M | 18 | |
| 2017-09-30 | 102 | $837.7M | 24 | |
| 2017-06-30 | 98 | $762.5M | 28 | |
| 2017-03-31 | 101 | $694.7M | 100 | |
| 2016-12-31 | 35 | $173.2M | 100 | |
| 2016-09-30 | 114 | $613.3M | 15 | |
| 2016-06-30 | 115 | $586.4M | 21 | |
| 2016-03-31 | 116 | $555.1M | 29 | |
| 2015-12-31 | 108 | $559.8M | 41 | |
| 2015-09-30 | 111 | $569.7M | 20 | |
| 2015-06-30 | 114 | $628.0M | — |
NS Partners Ltd's most significant position changes for 2026-03-31: Sold out: Intuit INC (INTU); New buy: Berkshire Hathaway Inc-cl B (BRK-B); New buy: Applied Materials INC (AMAT); Sold out: Msci INC (MSCI); Sold out: S&p Global INC (SPGI).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AVGO | Broadcom INC | +1.3% | +109.42% | Add |
| 2 | TSM | Taiwan Semiconductor-sp Adr | +0.9% | +364.57% | Add |
| 3 | WEC | Wec Energy Group INC | +0.8% | +51.43% | Add |
| 4 | NVDA | Nvidia CORP | +0.8% | +1.81% | Add |
| 5 | PM | Philip Morris International | +0.7% | +71.15% | Add |
| 6 | AAPL | Apple INC | +0.2% | -3.81% | Trim |
| 7 | MA | Mastercard INC - A | -0.1% | -5.09% | Trim |
| 8 | V | Visa Inc-class A Shares | -0.1% | -3.62% | Trim |
| 9 | UNH | Unitedhealth Group INC | -0.2% | -1.96% | Trim |
| 10 | HDB | Hdfc Bank Ltd-adr | -0.3% | +2.05% | Add |
| 11 | BSX | Boston Scientific CORP | -0.3% | -0.19% | Trim |
| 12 | AMZN | Amazon.com INC | -0.6% | -14.36% | Trim |
| 13 | META | Meta Platforms Inc-class A | -1.3% | -27.62% | Trim |
| 14 | GOOG | Alphabet Inc-cl C | -1.4% | -20.22% | Trim |
| 15 | MSFT | Microsoft CORP | -3.1% | -23.32% | Trim |
| 16 | INTU | Intuit INC | — | EXIT | Sold out |
| 17 | BRK-B | Berkshire Hathaway Inc-cl B | — | NEW | New buy |
| 18 | AMAT | Applied Materials INC | — | NEW | New buy |
| 19 | MSCI | Msci INC | — | EXIT | Sold out |
| 20 | SPGI | S&p Global INC | — | EXIT | Sold out |
| 21 | MCO | Moody's CORP | — | EXIT | Sold out |
| 22 | T | At&t INC | — | NEW | New buy |
| 23 | VIST | Vista Energy Sab De Cv | — | NEW | New buy |
| 24 | XOM | Exxon Mobil CORP | — | NEW | New buy |
| 25 | GEV | GE Vernova INC | — | NEW | New buy |
| 26 | GE | General Electric | — | NEW | New buy |
| 27 | VRSK | Verisk Analytics INC | — | EXIT | Sold out |
| 28 | CRM | Salesforce INC | — | EXIT | Sold out |
| 29 | BKNG | Booking Holdings INC | — | EXIT | Sold out |
| 30 | CVX | Chevron CORP | — | NEW | New buy |
| 31 | APH | Amphenol Corp-cl A | — | NEW | New buy |
| 32 | ADBE | Adobe INC | — | EXIT | Sold out |
| 33 | ADP | Automatic Data Processing | — | EXIT | Sold out |
| 34 | WFC | Wells Fargo & Co | — | NEW | New buy |
| 35 | EFX | Equifax INC | — | EXIT | Sold out |
| 36 | ADSK | Autodesk INC | — | EXIT | Sold out |
| 37 | NOW | Servicenow INC | — | EXIT | Sold out |
| 38 | HTHT | H World Group Ltd-adr | — | NEW | New buy |
| 39 | BAP | Credicorp Ltd. | — | NEW | New buy |
| 40 | PBR | Petroleo Brasileiro-spon Adr | — | NEW | New buy |
| 41 | GRAB | Grab Holdings Limited | — | EXIT | Sold out |
| 42 | VEEV | Veeva Systems Inc-class A | — | EXIT | Sold out |
| 43 | LLY | Eli Lilly & Co | — | NEW | New buy |
| 44 | TRU | Transunion | — | EXIT | Sold out |
| 45 | CSGP | Costar Group INC | — | EXIT | Sold out |
| 46 | AUGO | Aura Minerals Inc. | — | EXIT | Sold out |
| 47 | INFY | Infosys Ltd-sp Adr | — | EXIT | Sold out |
| 48 | TME | Tencent Music Entertainm-adr | — | EXIT | Sold out |
| 49 | MU | Micron Technology INC | — | NEW | New buy |
| 50 | PYPL | Paypal Holdings INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-11 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-10 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-07 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-12 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-07 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-08 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-08 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-09 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-09 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-10 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-10 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-05 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-10 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-02 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-30 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-10 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-13 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-13 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-12 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-07 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-08 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-02 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-15 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | Amendment | View on EDGAR |
| 2016-09-30 | 2016-11-15 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-06-02 | Amendment | View on EDGAR |
| 2016-03-31 | 2016-05-13 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-12 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-16 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-11-16 | 13F-HR | View on EDGAR |
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