NS Partners
LONDON, X0files as NS Partners Ltd
$2.3bn in 77 US stocks at the end of 30 June 2026. The top 10 are 47.2% of the money. It changed about 19.2% of the portfolio this quarter.
Value
$2.3bn
Stocks
77
Top 10 share
47.2%
Turnover
19.2%
What changed this quarter
New
Bought for the first time this quarter.
- Advanced Micro DevicesAMD1.8% of the fund
- Lam ResearchLRCX1.2% of the fund
- IntelINTC1.0% of the fund
- LindeLIN0.9% of the fund
- Itau Unibanco Hldg S AITUB0.7% of the fund
- FlexFLEX0.6% of the fund
- Texas InstrumentsTXN0.4% of the fund
- Vertiv HoldingsVRT0.4% of the fund
- Honeywell InternationalHON0.4% of the fund
- Honeywell AerospaceHONA0.4% of the fund
- Cisco SystemsCSCO0.4% of the fund
- OracleORCL0.4% of the fund
- CaterpillarCAT0.3% of the fund
- Marvell TechnologyMRVL0.3% of the fund
- GlobantGLOB0.2% of the fund
- Lumentum HoldingsLITE<0.1% of the fund
- FabrinetFN<0.1% of the fund
- BaiduBIDU<0.1% of the fund
Added
Bought more of a stock they already held.
- Applied MaterialsAMAT4.3% of the fund+2%
- Micron TechnologyMU2.2% of the fund+50%
- GE VernovaGEV1.8% of the fund+3%
- Eli LillyLLY1.5% of the fund+77%
- HDFC BankHDB1.1% of the fund+6%
- AutozoneAZO0.8% of the fund+4919%
- Ryanair HoldingsRYAAY<0.1% of the fund+11%
- Union PacificUNP<0.1% of the fund+2%
- Verizon CommunicationsVZ<0.1% of the fund+43%
Cut
Sold some of their stake.
- NvidiaNVDA8.4% of the fund-18%
- AlphabetGOOG7.6% of the fund-6%
- AppleAAPL6.4% of the fund-3%
- MicrosoftMSFT5.3% of the fund-14%
- Amazon.comAMZN4.4% of the fund-2%
- Meta PlatformsMETA2.8% of the fund-7%
- JPMorgan ChaseJPM2.6% of the fund-4%
- Berkshire HathawayBRK-B2.6% of the fund-3%
- UnitedHealth GroupUNH2.5% of the fund-6%
- VisaV2.1% of the fund-6%
- MastercardMA2.0% of the fund-3%
- Marriott InternationalMAR1.7% of the fund-19%
- NextEra EnergyNEE1.6% of the fund-11%
- WEC Energy GroupWEC1.5% of the fund-4%
- Coca-ColaKO1.5% of the fund-2%
- Taiwan Semiconductor ManufacturingTSM1.3% of the fund-11%
- Monster BeverageMNST1.3% of the fund-6%
- Vista Energy S.A.B. de C.V.VIST1.2% of the fund-7%
- YUM BrandsYUM1.2% of the fund-12%
- StrykerSYK1.1% of the fund-22%
- VerisignVRSN1.1% of the fund-3%
- ExxonMobil HoldingsXOM1.0% of the fund-6%
- T-Mobile USTMUS1.0% of the fund-27%
- ChevronCVX0.9% of the fund-4%
- Wells Fargo & CompanyWFC0.9% of the fund-4%
Sold out
Sold their entire stake.
- ZoetisZTS-100%
- Honeywell InternationalHON-100%
- Futu HldgsFUTU-100%
- CredicorpBAP-100%
- StarbucksSBUX-100%
- NikeNKE-100%
- McCormickMKC-100%
- Becton DickinsonBDX-100%
- Estee Lauder CompaniesEL-100%
- Masimo-100%
- Constellation BrandsSTZ-100%
- Suzano S ASUZ-100%
Holdings
- Vista Energy S.A.B. de C.V.VIST
- Share
- 1.2%
- Value
- $28m
- Shares
- 431,270
-7%
- Itau Unibanco Hldg S AITUB
- Share
- 0.7%
- Value
- $17m
- Shares
- 2,083,100
New
- Honeywell AerospaceHONA
- Share
- 0.4%
- Value
- $9m
- Shares
- 40,892
New
- Vale S AVALE
- Share
- 0.2%
- Value
- $6m
- Shares
- 383,400
-35%
- Companhia de Saneamento BasiSBS
- Share
- <0.1%
- Value
- $2m
- Shares
- 364,445
-5%
- Ryanair HoldingsRYAAY
- Share
- <0.1%
- Value
- $1m
- Shares
- 19,081
+11%
- BaiduBIDU
- Share
- <0.1%
- Value
- $1m
- Shares
- 10,400
New
- Teck ResourcesTECK
- Share
- <0.1%
- Value
- $351,048
- Shares
- 5,900
-34%
- H World GroupHTHT
- Share
- <0.1%
- Value
- $312,900
- Shares
- 7,500
-98%
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 8.4% | $196m | 977,258 | -18% |
| AlphabetGOOG | 7.6% | $176m | 498,529 | -6% |
| AppleAAPL | 6.4% | $150m | 518,312 | -3% |
| MicrosoftMSFT | 5.3% | $123m | 328,766 | -14% |
| Amazon.comAMZN | 4.4% | $103m | 432,524 | -2% |
| Applied MaterialsAMAT | 4.3% | $101m | 139,382 | +2% |
| BroadcomAVGO | 2.9% | $67m | 176,623 | Held |
| Meta PlatformsMETA | 2.8% | $64m | 114,227 | -7% |
| JPMorgan ChaseJPM | 2.6% | $61m | 187,157 | -4% |
| Berkshire HathawayBRK-B | 2.6% | $60m | 119,182 | -3% |
| UnitedHealth GroupUNH | 2.5% | $58m | 139,338 | -6% |
| Micron TechnologyMU | 2.2% | $50m | 43,692 | +50% |
| VisaV | 2.1% | $49m | 143,029 | -6% |
| MastercardMA | 2.0% | $47m | 92,360 | -3% |
| GE VernovaGEV | 1.8% | $42m | 35,557 | +3% |
| Advanced Micro DevicesAMD | 1.8% | $42m | 71,596 | New |
| Marriott InternationalMAR | 1.7% | $40m | 108,102 | -19% |
| General ElectricGE | 1.7% | $40m | 106,543 | Held |
| NextEra EnergyNEE | 1.6% | $37m | 423,155 | -11% |
| WEC Energy GroupWEC | 1.5% | $36m | 306,688 | -4% |
| Coca-ColaKO | 1.5% | $35m | 427,415 | -2% |
| Eli LillyLLY | 1.5% | $34m | 28,723 | +77% |
| Bank of AmericaBAC | 1.4% | $33m | 577,373 | Held |
| Philip Morris InternationalPM | 1.4% | $32m | 176,470 | Held |
| Taiwan Semiconductor ManufacturingTSM | 1.3% | $31m | 64,637 | -11% |
| Monster BeverageMNST | 1.3% | $30m | 310,132 | -6% |
| Lam ResearchLRCX | 1.2% | $28m | 63,560 | New |
| Vista Energy S.A.B. de C.V.VIST | 1.2% | $28m | 431,270 | -7% |
| YUM BrandsYUM | 1.2% | $27m | 171,184 | -12% |
| HDFC BankHDB | 1.1% | $27m | 1,029,571 | +6% |
| StrykerSYK | 1.1% | $26m | 83,396 | -22% |
| VerisignVRSN | 1.1% | $25m | 99,126 | -3% |
| ExxonMobil HoldingsXOM | 1.0% | $23m | 171,076 | -6% |
| T-Mobile USTMUS | 1.0% | $23m | 135,454 | -27% |
| IntelINTC | 1.0% | $23m | 161,274 | New |
| LindeLIN | 0.9% | $21m | 40,517 | New |
| ChevronCVX | 0.9% | $21m | 126,393 | -4% |
| Wells Fargo & CompanyWFC | 0.9% | $21m | 251,373 | -4% |
| AutozoneAZO | 0.8% | $19m | 5,973 | +4919% |
| Intuitive SurgicalISRG | 0.8% | $18m | 45,873 | -36% |
| Itau Unibanco Hldg S AITUB | 0.7% | $17m | 2,083,100 | New |
| AmphenolAPH | 0.7% | $17m | 96,267 | -50% |
| Northrop GrummanNOC | 0.7% | $15m | 30,180 | -11% |
| Idexx LaboratoriesIDXX | 0.7% | $15m | 28,950 | -18% |
| Lockheed MartinLMT | 0.6% | $14m | 27,709 | -13% |
| FlexFLEX | 0.6% | $13m | 83,288 | New |
| SynopsysSNPS | 0.6% | $13m | 29,579 | Held |
| Boston ScientificBSX | 0.5% | $12m | 289,367 | -19% |
| Edwards LifesciencesEW | 0.5% | $12m | 130,801 | -32% |
| McDonald'sMCD | 0.5% | $11m | 41,072 | -65% |
| Crown CastleCCI | 0.5% | $11m | 146,359 | -5% |
| AT&TT | 0.4% | $10m | 499,579 | -60% |
| Texas InstrumentsTXN | 0.4% | $10m | 32,084 | New |
| Vertiv HoldingsVRT | 0.4% | $10m | 28,447 | New |
| Honeywell InternationalHON | 0.4% | $9m | 40,892 | New |
| Honeywell AerospaceHONA | 0.4% | $9m | 40,892 | New |
| Cisco SystemsCSCO | 0.4% | $9m | 75,094 | New |
| OracleORCL | 0.4% | $9m | 59,674 | New |
| CaterpillarCAT | 0.3% | $7m | 6,377 | New |
| Marvell TechnologyMRVL | 0.3% | $7m | 22,720 | New |
| AllegionALLE | 0.3% | $7m | 46,708 | -35% |
| Vale S AVALE | 0.2% | $6m | 383,400 | -35% |
| GlobantGLOB | 0.2% | $5m | 167,500 | New |
| Petrobras - Petroleo Brasileiro SAPBR | 0.2% | $5m | 297,413 | -62% |
| WatersWAT | 0.1% | $2m | 6,511 | -17% |
| Companhia de Saneamento BasiSBS | <0.1% | $2m | 364,445 | -5% |
| Lumentum HoldingsLITE | <0.1% | $2m | 1,946 | New |
| FabrinetFN | <0.1% | $2m | 2,861 | New |
| Ryanair HoldingsRYAAY | <0.1% | $1m | 19,081 | +11% |
| BaiduBIDU | <0.1% | $1m | 10,400 | New |
| Union PacificUNP | <0.1% | $963,968 | 3,544 | +2% |
| Procter & GamblePG | <0.1% | $574,536 | 3,918 | Held |
| Home DepotHD | <0.1% | $485,288 | 1,376 | -57% |
| CME GroupCME | <0.1% | $424,877 | 1,924 | Held |
| Teck ResourcesTECK | <0.1% | $351,048 | 5,900 | -34% |
| H World GroupHTHT | <0.1% | $312,900 | 7,500 | -98% |
| Verizon CommunicationsVZ | <0.1% | $248,959 | 5,880 | +43% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 4.8% since 30 June 2025.
Where the money is
Technology39.4%
Financial services12.8%
Media & telecom11.7%
Retail & consumer8.6%
Health care7.7%
Industrials6.6%
Everyday goods4.2%
Utilities3.1%
Energy2.1%
Materials0.9%
Real estate0.5%
Other2.3%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.