NS Partners Ltd

Long Only Manager

NS Partners Ltd is a Long Only Manager led by Stephen Edward Reynolds, reporting $5.5B in AUM as of Q3 2025 with 35% Technology concentration and 51% concentrated in top 10 holdings.

PresidentStephen Edward Reynolds

Portfolio Value: $2.6B
Positions: 74
Top Holding: NVDA at 10.45%
Last Reported: Q3 2025

AddressSouthwest House, 11a Regent Street St James's, London, SW1Y 4LR, United Kingdom

Top Holdings

Largest long holdings in NS Partners Ltd's portfolio (50.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Nvidia NVDA	Semiconductors Technology	$270.1M	10.45%	-$9.5M Sold	0.01% 1.4M shares	Q2 2018 Held for 7y 5m
2 Microsoft MSFT	Software - Infrastructure Technology	$268.4M	10.38%	+$2.8M Bought	0.01% 518.2K shares	Q2 2015 Held for 10y 5m
3 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$162.6M	6.29%	-$664.6K Sold	0.01% 667.6K shares	Q2 2015 Held for 10y 5m
4 Apple AAPL	Consumer Electronics Technology	$140.7M	5.44%	-$1.3M Sold	0.00% 552.6K shares	Q2 2015 Held for 10y 5m
5 Meta Platforms, Inc. META	Internet Content & Information Communication Services	$125.4M	4.85%	+$2.9M Bought	0.01% 170.8K shares	Q2 2015 Held for 10y 5m
6 Amazon AMZN	Specialty Retail Consumer Cyclical	$112.3M	4.34%	+$12.9M Bought	0.00% 511.4K shares	Q4 2015 Held for 9y 11m
7 Intuit INTU	Software - Application Technology	$66.8M	2.58%	+$10.9K Bought	0.04% 97.8K shares	Q3 2017 Held for 8y 2m
8 Mastercard MA	Financial - Credit Services Financial Services	$57.5M	2.22%	-$767.3K Sold	0.01% 101.1K shares	Q2 2015 Held for 10y 5m
9 Visa V	Financial - Credit Services Financial Services	$55.2M	2.14%	-$929.2K Sold	0.01% 161.7K shares	Q2 2015 Held for 10y 5m
10 UnitedHealth Group UNH	Medical - Healthcare Plans Healthcare	$51.6M	2.00%	+$8.3M Bought	0.02% 149.5K shares	Q2 2015 Held for 10y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in NS Partners Ltd's latest filing

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Market Value

$2.6B

Prior: $2.4B

Q/Q Change

+5.54%

+$135.7M

Net Flows % of MV

+2.21%

Turnover Ratio

3.35%

New Purchases

4 stocks

$48.9M

Added To

27 stocks

+$63.1M

Sold Out Of

3 stocks

$22.1M

Reduced Holdings

39 stocks

-$32.8M

Increased Positions

Position	Shares Δ	Change
1 TME Tencent Music Entertainment Group TME	New	0 → 1.1M +$25.7M
2 Synopsys SNPS	New	0 → 29.1K +$14.4M
3 VNET VNET Group, Inc. VNET	New	0 → 686.7K +$7.1M
4 SBS Companhia de Saneamento Básico do Estado de São Paulo SBS	New	0 → 68.0K +$1.7M
5 Vale S.A. VALE	+678.32%	104.7K → 814.9K +$7.7M

Decreased Positions

Position	Shares Δ	Change
1 Ansys ANSS	Sold	28.3K → 0 −$9.9M
2 GGAL Grupo Financiero Galicia GGAL	Sold	192.9K → 0 −$9.7M
3 PepsiCo PEP	Sold	18.7K → 0 −$2.5M
4 QFIN Qifu Technology QFIN	-59.28%	440.6K → 179.4K −$7.5M
5 Credicorp BAP	-33.65%	60.6K → 40.2K −$5.4M

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Analytics

Portfolio insights and performance metrics for NS Partners Ltd

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Sector Allocation

Technology

35.00%

Communication Services

12.90%

Financial Services

12.70%

Consumer Cyclical

10.60%

Healthcare

10.40%

Industrials

6.30%

Consumer Defensive

4.20%

Real Estate

2.20%

Utilities

1.40%

Market Cap Distribution

Mega Cap (> $200B)

57.06%

Large Cap ($10B - $200B)

38.09%

Mid Cap ($2B - $10B)

0.24%

N/A (ETF or Unknown)

4.61%

Portfolio Concentration

Top 10 Holdings %

50.7%

Top 20 Holdings %

66.18%

Top 50 Holdings %

92.82%

Top 100 Holdings %

100.0%